Mobile payment wallet comes to Austria

4th December 2017

Alice Matthews

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Whitepaper

Based on HCE (Host Card Emulation) technology, Erste Bank und Sparkassen recently launched the first mobile payment wallet in the Austrian market within its 'George Go' app. It is powered by G+D Mobile Security’s Convego CloudPay solution and initially supports Mastercard and at a later stage also other card products of the portfolio. This mobile payment solution is the first commercial launch based on the framework agreement between Erste Group and G+D Mobile Security to provide mobile payment solutions to Erste Group issuer banks.

The solution enables Erste Bank und Sparkassen customers to pay at a Point-of-Sale simply by tapping their phone with the pre-installed “George Go” app to the POS terminal. It supports Mastercard products and the related token services (MDES), to enable a convenient and flexible NFC-based mobile payment experience for the bank’s customers.

Erste Bank und Sparkassen chose the HCE solution Convego CloudPay by G+D Mobile Security for its mobile payment platform. The company claims that Convego CloudPay is the only solution in the market that is readily integrated, qualified and live in multiple commercial setups with both Mastercard MDES and Visa VTS tokenisation services. G+D Mobile Security provides Convego CloudPay as a managed service to Erste Group.

“With that solution we have taken maximum security and user-friendliness when paying by mobile to a new level,” said Thomas Schaufler, Chief Retail Officer at Erste Bank Oesterreich.

“We are proud that Erste Bank und Sparkassen chose us as their techonology partner to bring innovative mobile payment solutions to the Austrian market,” said Dr. Carsten Wengel, Head of the Region EMEA at G+D Mobile Security. “This launch is the first result of our cooperation, and we look forward to realising the next exciting projects with Erste Group.”