New configuration supports financial services sector to manage multiple applications including payment, access control and transport ticketing

GlobalPlatform, the standard for secure digital services and devices, has published a Financial Configuration to update the configuration for banking smart cards and support the deployment of Secure Elements (SEs) in contactless-enabled wearables like rings and wristbands. Chip and device makers, banks and app developers now have an implementation guide to help them launch wearables that can be remotely updated and support multiple applications including payment, access control and transport ticketing.

“Contactless payment cards have made us familiar with tap & go, and smartphones have made the convenience of multi-function devices desirable. Wearables such as smart rings and smart wristbands are bridging the gap between simple cards and feature-rich smartphones by enabling consumers to pay, unlock and travel with a tap,” comments Gil Bernabeu, Technical Director of GlobalPlatform. “This new configuration standardizes all of this, saving implementers time and money, increasing revenue opportunities and enriching the experience for consumers.”

The Financial Configuration 1.0 defines the minimum implementation requirements of the GlobalPlatform Card Specification for financial products. It enables users to identify the exact specifications relevant to their project to ease development and deployment. Sub-configurations introduce new options to address different types of objects, from a simple card with a single payment application through to a multi-use, multi-application contactless wearable. This configuration supersedes the Basic Financial Configuration, which was created primarily for plastic payment smart cards.

“The Card Spec is extensive, covering a wide range of use cases and business models that are not needed by manufacturers launching these simpler contactless wearables,” adds Gil. “Configurations give them the focused subset of specs they need, reducing the time needed to develop and deploy new devices and services.

“More broadly, with the Financial Configuration, device makers embedding SEs now have a consistent approach, regardless of whether they are launching a payment card, a contactless wearable or a feature-rich smartphone. This gives the financial community a single point of reference to protect all of their devices and services.”

Become a member to get involved in the maintenance and advancement of the GlobalPlatform SE Specifications. Interested in learning more? Download the ‘Introduction to Secure Elements’ guide.