Giesecke & Devrient and Nokia announced that G&D has become the sole shareholder in Venyon Oy by acquiring the shares held by Nokia. G&D held a majority of the shares before the acquisition.
Since its creation in 2006, Venyon has established itself as a trusted service managers (TSM) in the mobile near field communication market.
As a trusted service manager, Venyon provides trusted services to provision and manage applications such as credit cards or transit tickets securely over the mobile network on the user’s NFC-enabled mobile phone.
Venyon provides TSM services between mobile network operators issuing NFC-capable SIM cards and service providers such as transit companies and banks on the growing NFC market.