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Gemalto gets MasterCard's approval for cloud based payments

Digital security firm Gemalto received full MasterCard approval for a complete Cloud-Based Payment (CBP) solution, the company announced on Monday.

According to the accompanying press release, Gemalto is the first mobile payment vendor to have accomplished this. The solution covers Gemalto’s CBP server platforms and any payment software the cardholders’ mobile phones might have. It is also available as part of the Allynis Trusted Services Hub (TSH).

The Gemalto products are used to help banks seamlessly issue digital versions of their payment cards to the HCE1-based (host card emulation) payment apps. Besides banks, it works with partner wallets from device manufacturers, mobile operating system providers and mobile network operators. Gemalto didn’t go into details over who these partners were.

"The consumer lifestyle is increasingly defined by the ubiquitous smart phones and tablets and there's an ever-growing appetite for secure mobile payment," said Jean-Claude Deturche, Senior Vice President of Mobile Financial Services for Gemalto. "Gemalto's MasterCard-approved suite of Cloud-based payment solutions opens another flexible and highly efficient route into this fast-growing market, securely located under the broad umbrella of our proven Trusted Services Hub, the Allynis TSH."

Gemalto is a digital security company, founded in 2006. It is headquartered in Amsterdam, The Netherlands, and has subsidiaries in several countries across the globe. Globally, it has more than 14,000 employees, and in 2014 it had an annual revenue of €2.5 billion (£1.9bn).

The company’s portfolio offers a wide variety of products, from advanced cryptographic software to back-office authentication and encryption platforms.