Commercial Bank of Kuwait gets mobile payments moving with Thales digital solutions

CBK customers can now enjoy the convenience of contactless mobile payments through the bank mobile application

  
Commercial Bank of Kuwait gets mobile payments moving with Thales digital solutions

Thales is supplying Commercial Bank of Kuwait (CBK) with its Gemalto Trusted Services Hub (TSH) that offers CBK customers the freedom and convenience of secure contactless payments, on their smartphones. A tokenization process allows the secure digitalization of debit and credit cards on Android handsets, protecting users’ personal data against fraudsters.

To get access to this service, CBK customers just have to download CBK mobile banking application on their Android smartphones and register their payment cards securely in the mobile application. In just few seconds the payment cards are set at disposal in the app, in their digital versions, ready to be selected and used for purchases. The app, which also integrates Thales Gemalto SDK (Software Development Kit), can then be used as a mobile wallet to make swift and straightforward payments at contactless points of sales.

Thales solution is a cloud-based, turnkey service that facilitates seamless and secure tokenization. The physical card’s details are converted into a digital token that can be embedded easily into devices such as smartphones and wearables. Moreover, the level of protection of the encrypted token prevents fraudsters to get access to users’ sensitive data, which ensures the highest standards of fraud protection.

The launch of mobile payments further extends and strengthens the partnership between CBK and Thales. The bank, which is one of Kuwait’s largest financial institutions, already relies on Thales for their EMV contactless cards, and Instant Issuance solution for immediate cards personalization and printing.

“CBK is committed to offering its customers the most innovative and exciting banking services possible. The introduction of contactless mobile payment represents the latest stage on this journey, and also reflects our confidence in Thales to help us deliver most advanced and recent digital payment innovations.” 

AbdulAziz Essa Malak, AGM - Card Center at CBK 

“Our contribution to CBK success is set on unrivalled security expertise and experience in mobile payment deployments for worldwide issuers and wallets providers. As we work ever-more closely with CBK, our objective is to offer new digital experiences to Kuwait’s young, demanding and tech-savvy consumers.” 

Nassir Ghrous, Senior Vice President, Banking and Payment Services for Africa, Middle East and Eurasia region at Thales 

About Thales

Thales (Euronext Paris: HO) is a global technology leader shaping the world of tomorrow today. The Group provides solutions, services and products to customers in the aeronautics, space, transport, digital identity and security, and defence markets. With 83,000 employees in 68 countries, Thales generated sales of €19 billion in 2019 (on a pro forma basis including Gemalto over 12 months).

Thales is investing in particular in digital innovations – connectivity, Big Data, artificial intelligence and cybersecurity – technologies that support businesses, organisations and governments in their decisive moments.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases