Nets Group and Carta roll out Europe’s largest multi-bank payments solution to date

In Host Card Emulation, Insights, Loyalty and Rewards, Other Secure Element Models, Tokenization by Elizabeth Duke

Though mobile payments are quickly becoming ubiquitous, banks have been characteristically slow to dive headlong into the space and take a leading role to deliver mobile services. You can’t blame them—until recently they’ve had their hands tied. It was hard to make the business case and balance the trade-offs: either invest an in-house solution to maintain full control, or deploy a hosted solution to gain speed to market and flexibility.

Now, banks across northern Europe that operate through the Nets processing platform don’t need to choose.

Nets and Carta have teamed up to roll out a highly secure multi-bank mobile payments solution using Carta’s revolutionary Token Processing Appliance (TPA). The partnership positions Nets to be an end-to-end token service provider for each of the 200-plus banks in its network. Thanks to the TPA, these banks benefit from a future-proof mobile payments solution with the unrivalled security of on-premises control.

As mobile payments achieve mass adoption, banks and the platforms that process and switch transactions for consumers and merchants require modern technology to effectively deliver scalable and secure digital solutions. The TPA from Carta offers a unique cost effective deployment for tokenization and mobile payments directly to cardholders while maintaining control over the technology roadmap.

This localized model allows Nets and their clients to preserve their role as a key provider of secure transactions for their customers and puts Nets in a position to offer innovative solutions for the future of payments.

The move means Nets partner banks can quickly and cost-effectively deploy mobile payments programs. The service supports all devices, and all payment types including global and domestic schemes, and enables direct bank-branded mobile applications and options to participate in other mobile wallets or apps in market.  

Nets partners benefit from a configured and certified set of hardware and software modules within the TPA, including tokenization and token credential management and provisioning, along with an easily integrated SDK for client mobile payment applications. It’s an incredibly simple turnkey solution for what is typically a complex, lengthy process—and it’s also highly secure.

The TPA’s multi-tenant model allows each bank operating through Nets to cost-effectively and securely share a common private infrastructure. And all tenants benefit from a flexible long term roadmap—a future-proof solution that can adapt with ever-shifting user needs. It means they get the best of all worlds and no longer need to compromise when it comes to flexibility and control.

Read more about Carta’s TPA technology

Read the related Press Release