This contactless payments solution, integrated with leading open wallets, simplifies the ability for Canadian residents to make debit expenditures directly from a mobile phone without presenting a bank payment card and will be available by the end of the year.
This collaboration marks the first time that Cardtek has integrated leading open wallet options into its products and will enable DC Payments to offer secure contactless payment services to its financial institution clients located throughout Canada.
Cardtek’s MSM solution is integrated into DC Payments card management ecosystem to function as a gateway connecting issuers, DC Payments and a variety of Tokenization Service Providers (TSP), beginning with Interac, Canada’s leading payments brand.
The MSM enables advanced card credential management services including deployment and life cycle management – tuned for the major digital wallets available in the market.
DC Payments Americas managing director Adel Elassal said: “We are extremely pleased to be using the MSM as the foundation of our comprehensive digital credential enablement platform, which we call ‘DC Mobile.’ The MSM is designed to meet the technology demands of today, while providing a broad based platform for the ever-expanding set of future digital credentials. Not only will these credentials be used for highly secure contactless payments through point of sale terminals, but will also support the new breed of in-app and secure ecommerce payments.
“Critically, the MSM allows our financial institution clients to engage in this new range of payment channels without the enormous in-house investment usually associated with them. We do this by providing a wide range of proxy services, like one-time password management, an advanced issuer-controlled risk management engine, and real time access to credential data housed in the MSM vault.”
“We have great confidence that this partnership will bring new opportunities and benefits to DC Payments customers in Canada,” said Emilian Elefteratos, Cardtek EVP sales & marketing for North America. “Utilizing our industry foresight and technical expertise, Cardtek continues to offer a dynamic competitive edge to our customers and partners.”
