Mastercard, G+D Mobile Security partner for contactless cards in LAC region

Wednesday 10 April 2019 13:22 CET | News

Mastercard has partnered with Germany-based Giesecke+Devrient (G+D) Mobile Security to accelerate issuance of contactless cards in Latin America and the Caribbean (LAC) region.

Furthermore, the Germany-based mobile security technology company will provide preferential pricing to Mastercard issuers looking to switch over to contactless cards.

According to the press release, over 50% of cards currently being issued across the globe already have the contactless function. Furthermore, until 2020 this share will most likely touch 60% of new payment cards.

LAC region is still in the early stages of contactless payments adoption. However, markets like Mexico, Brazil, Costa Rica, Chile and Colombia are doing better. The market now demands upgraded technology.

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Keywords: MasterCard, G+D Mobile Security, Giesecke+Devrient, partnership, contactless cards, LAC, Latin America, the Caribbean, cards
Countries: World