G+D becomes a Digital First integrator for Mastercard Engage

Following this announcement, the company expanded its role in the Mastercard Engage network, being allowed to provide customers of Mastercard with services and products that meet the demands and preferences of the industry. These include secure and seamless igital payment services, such as digital debit cards, credit card issuance, mobile payments, and digital payments. 

Digital First represents a trend in the payment ecosystem, where clients expect integrated digital and physical experiences, as well as instant gratification. These include payment cards that were designed to immediately be available on a mobile phone and online, while the physical card is prepared and delivered in a short period of time to the user. 

As a Digital First system integrator, Giesecke+Devrient will be also enabled to cover multiple aspects of digital payment processes, from usage and card management, through the process of applying for a payment card, to additional customised solutions and products. Banks and financial institutions will be able to benefit from increased instant card activation and transaction rates with debit cards and credit cards, efficient and secure digital payment experiences, increased customer engagement time within the bank’s application (with opportunities to offer additional services and tools), `out-of-the-box` offerings for digital banking, as well as improved solutions for the multi-channel issuance and the possibility of blending digital and physical issuance. 

G+D product launches and partnerships

Germany-based security technology company Giesecke+Devrient offers its customers and users multiple services and products, such as debit and credit card issuance, mobile payments, instant issuance, and issuance API. 

The company launched a new solution that provided banks and financial institutions with biometric-based customer authentication methods for banking and transaction approvals. The service was set to enable the authentication of clients in a fast, secure, and reliable manner while requiring either a fingerprint or a facial scan for allowing two-factor authenticated access across all channels. 

In January 2023, G+D partnered with cloud-native payments infrastructure company Gr4vy to improve the user journey in ecommerce. The Giesecke+Devrient’s network tokenisation solution was set to be integrated into the Gr4vy platform, which aimed to enable merchants and traders to benefit from an enhanced authorisation procedure and decreased transaction costs. This resulted in reduced false transaction rejections and fraud rates. 

Included in the benefits brought to users (both merchants and customers) through this collaboration were higher authorisation rates and overall trust in the process, fewer false transaction rejections, and lower fraud rates compared with transactions where users’ payment data is submitted directly, as well as decreased transaction costs.