Austin-based Mozido is plowing big bucks into HCE (host card emulation) technology via a strategic investment in SimplyTapp.
Mozido will leverage SimplyTapp’s open card issuance platform to allow merchants to support NFC for more efficient and secure transactions within the merchants’ branded mobile application environment.
The investment comes on the heels of Mozido’s majority acquisition of CorFire, a global leader in Trusted Service Management (TSM) services and tokenization. The strength of Mozido’s Mobile Transaction Ecosystem Architecture Framework (MoTEAF) platform as a service for mobile payments, consumer engagement, and financial inclusion, combined with the specialized capabilities from CorFire’s NFC tokenization and SimplyTapp’s HCE technology, positions Mozido as the leader in both cloud-based and hardware-based secure element, and NFC-based mobile payments.
By combining Mozido’s payment platform with SimplyTapp’s fundamental HCE patents and technology and CorFire’s NFC payments, Mozido will provide a plug and play capability to banks and other clients to extend their current mobile applications. This will allow their consumers with NFC mobile phones to pay at any NFC-enabled merchant. Mozido has consistently led the industry in the deployment and integration of mobile payments and consumer engagement programs.
This investment expands Mozido’s platform and allows its customers to more effectively leverage mobile payments within their consumer’s mobile experience, including stored-value, private-label and network branded cards with a single tap at existing NFC payment terminals. Merchants’ mobile loyalty and engagement applications powered through MoTEAF can deliver tokenized offers and customer payments for seamless mobile loyalty and payments application that is interoperable with any payments method.
For data, background and forecasts on Mozido or SimplyTapp: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).