OT partners STET and GIE-CB to roll out mobile payment in France

Mobile payments are growing rapidly around the world, with an annual growth of 23,2% estimated until 2020. In France, banks have commissioned STET and GIE-CB to work together to develop an industrial platform to enable banks to use this new payment method securely. The two national bodies have chosen to work with OT, a company that has acquired significant expertise in the field, participating in a range of projects with banks and smartphone manufacturers the world over.

By using OT’s Digital Enablement Platform (DEP), the customers of French banks will be able to use virtual payment cards stored in the digital wallets provided by manufacturers of compatible mobiles.

OT’s DEP is an end-to-end solution that manages enrolment, loading, and configuration on any kind of mobile, as well as the life cycle of payment data (tokens) in digital wallets, no matter the technology and security factors used, whether physical or software-based.

OT (Oberthur Technologies) is a global provider of embedded security software products and services.

STET is a retail payment operator for French and European markets, and Cartes Bancaires CB Group (GIE-CB) is a regulatory body for the payment card system in France.