Bradesco, a Brazil-based bank, is working with Claro and Giesecke & Devrient (G&D) to introduce near field communication-based (NFC) mobile payments in Brazil in the first half of 2014, allowing customers to perform contactless payments during shopping.
The mobile payments will initially begin in the state of Sao Paulo and will further be expanded to other parts of the country.
Go deeper with GlobalData
G&D is supplying the SIM cards with secure storage facility for the payment software, the SmartTrust Portigo mobile wallet for smartphones, and the Trusted Service Manager (TSM) solutions that allows customers to receive Bradesco account holders’ payment card information on their devices in a secure form through Claro’s mobile network.
NFC radio technology will drive communication between two devices at shorter distances and will help in making cashless and contactless payments through mobile phones.
Giesecke & Devrient Server software and services (3s) division group senior vice president, Carsten Ahrens, said by adopting mobile payment services based on NFC technology Brazil is setting the course for all of Latin America.
"We are delighted at the chance to furnish both our partners with a secure, overall concept. And in providing our award winning SmartTrust Portigo mobile wallet solution, we are making it real easy for people to make contactless payments with their smartphones," Ahrens added.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
