German savings banks to roll out mobile payment service

German savings banks to roll out mobile payment service

Germany's savings banks are planning a mass-market roll out of contactless mobile payments technology in 2018.

Using technology developed by S-Payment, a subsidiary of the Deutscher Sparkassen Verlag (DSV) group, the product is currently undergoing pilot trials with ten Mastercard issuing savings banks.

In the nation-wide commercial phase, girocard mobile, Germany's most-used payment card and other schemes will be supported.

The banks are working with G+D Mobile Security to provide on-air provisioning and connections to the Mastercard tokenisation services MDES (Mastercard Digital Enablement Service) for securing transactions.

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