UL accredited by Mastercard to perform CPV certifications for Mastercard Cloud-Based Payments Solutions
January 5, 2018 - UL is proud to announce that Mastercard has accredited UL to provide formal approval CPV services for Mastercard Cloud-Based Payments (MCBP) solutions.
MCBP is a secure and scalable software-based solution developed by Mastercard to digitize card credentials and enable both contactless and remote payment transactions.
As no secret data needs to be stored in the mobile, the solution is implemented outside of the secure element. All implementations where the mobile devices are not provisioned by the Mastercard Digital Enablement Service (MDES) must go through CPV Formal Approval. UL offers CPV for MCBP on behalf of Mastercard.
Erwin Jansen, Operations Director at UL’s Transaction Security division said: “UL is at the forefront advising banks on their strategies for rolling out new and innovative payment products. We are very pleased with the expansion of our Mastercard approval services portfolio, which adds to our one-stop shop strategy for the accredited certification services we offer for different brands and industry organizations. This accreditation will greatly benefit our customers, as it will streamline the certification process, reduce time to market, and enable interoperable and compliant devices supporting MCBP.”
UL has been a leading service provider in the field of payment technology since 1997. UL works with companies throughout the payment ecosystem, and is capable of assisting with the EMV migration and the implementation of new payment technologies globally. UL’s Transaction Security division has been independently assessed and accredited to the most stringent standards. As a result, UL is able to provide the highest level of service to its clients and partners. Using its in-depth knowledge of the field, UL supports customers through the entire process of evaluating payment product compliance and interoperability. UL’s advanced development and testing facilities are all equipped with a wide range of state-of-the-art automated measurement equipment, and is poised to help clients at all phases to implement the security applications provided by Mastercard and other service providers.