UpTech News Investing in Tech

Visa and MasterCard putting NFC in the forefront

This morning Gemalto is taking a hit as Visa and MasterCard back host card emulation (HCE) for NFC based mobile payments. HCE enables NFC based payment services to bypass the secure element controlled by mobile operators.

What will happen now is that both Visa and MasterCard will allow customers cards to be stored in the cloud for NFC payments, giving them the opportunity to check out at stores by touching their smartphone to a reader.

With this shift from carrier control, this will open up a host of new applications and could be a great push for NFC chip manufacturers like NXP.

For more reading on the topic, see the links below.
http://www.mobileworldlive.com/mastercard-visa-back-hce-nfc-based-mobile-payments
http://www.theverge.com/2014/2/19/5425634/visa-mastercard-enable-hce-mobile-payments
http://www.bloomberg.com/news/2014-02-20/gemalto-drops-as-visa-backs-rival-mobile-payment-systems.html

Share

Leave a comment

Your comment

UpTech News is powered by WordPress | Entries (RSS) and Comments (RSS)| Partnerprogramm Theme