Consumers are now, more than ever, using their mobile phones to purchase goods and services and are increasingly seeing their mobile phones as the wallets of the future. In response, card issuers, retailers, mobile operators,… are launching mobile payment services at an unprecedented rate, using their own wallet or dedicated ‘OEM-Pay’ wallets.
To secure the future of mobile payments, the card consortium EMVCo has launched a tokenisation framework, requiring all providers to secure customer card credentials on mobile devices. The framework has created a number of challenges for providers, who will have to create ‘Token Vaults’ that are scheme-agnostic, provide multiple use cases and support all mobile payment devices.
HPS’ PowerCARD-Tokenisation solution enables providers to overcome these challenges by supporting the issuance, provision, storage and management of tokens from any schemes on any type of wallet.
Money Transfer (between persons), Payment (between person and merchant), Benefits disbursement (between Government/Businnes and person), cash-in and cash-out,… are as many services you want to launch as part of your wallet. Not only you need to care of the wallet owner but you need also to manage the entire eco-system: agents/distributors, merchants, ...
HPS’ PowerCARD-Wallet provides great flexibility for organisations to launch their own-branded and personalised mobile payment wallet by connecting internal and external payment means and supporting various options for cash in and out.