IDEMIA is joining forces with G+D Mobile Security to form the White Label Alliance, a new, independent organization that will work to establish global standards for the payments industry. The standards will be based on existing EMV technology, and will cover all aspects of the industry, including payment cards, terminals, and mobile devices.
“Supporting open standards and delivering interoperable solutions has always been a key concern for our company,” said IDEMIA Executive VP Amanda Gourbault. “We want to create an open alliance which will allow domestic payment networks, transport operators and closed loop retailers to deploy a truly independent solution based on proven technology.”
By creating those open standards, the two companies are hoping to build a stable yet competitive marketplace that will give consumers more confidence in various payment solutions. The WLA will also make it easier for new companies to launch compliant payment products in open and closed loop systems.
IDEMIA and G+D Mobile Security are inviting other payment solutions providers to collaborate through the WLA, which means the organization could expand rapidly as other companies join the fold. In the meantime, both companies are currently at the forefront of the FinTech industry. IDEMIA recently launched a future-proof smart card, while G+D announced plans for a mobile authentication platform at the tail end of 2018.