SWIM MAP Platform turns Smartphones into Payment Cards….
SWIM mobile apps enable a whole new generation of smartphone HCE EMV payment tokens that are more convenient and more secure than before. Therefore, one key role of the HCEservice.com SWIM MAP platform is to handle mobile-side PKI and then provide an interface to the existing banking card issuance networks.
The SWIM MAP platform acts as an intermediary mapping the PKI/SWIM secured HCE payments transactions to traditional banking transactions. The diagram below shows how HCEservice.com bridges the gap between secure m-commerce and the existing banking card issuer systems. This allows the card issuers to get the benefits of PKI.
Our SWIM MAP managed service has greater than 99.95% uptime as expected within the ﬁnancial IT industry. We also have the capability to scale our hosted infrastructure globally to include more secure data centres as part of our global “Cloud Tokenisation Service”. With a strong management team and commitment towards deploying national ‘cloud’ tokenisation services and offering excellent customer and partner support, HCEservice.com is all set to respond to the global mobile HCE payment revolution.
SWIM NFC Contactless Mobile Payments Service Benefits….
NFC on mobile phones is very short-range wireless connectivity technology with transmission capacity to execute contactless card payment transactions at standard point of sale terminals commonly used in physical retail stores today. The appeal of NFC is that it is compatible and interoperable with other current systems, e.g. transit and contactless payment credit and debit cards. In essence, it is not a new technology and works with existing payment hardware and communication protocols.
The problem to solve to safely use NFC on mobile phones is how to securely manage payment card token data on open always connected devices such as mobile phones? Secure elements that securely store information such as card token identity credentials and ﬁnancial value were initially thought to be the answer but their use pose significant business relationship management barriers. A new software based payment standard called HCE (host card emulation) has now been proposed by MasterCard and Visa which other card schemes are also adopting. HCE on its own is not enough! We need to also have TRUST in the HCE payment infrastructure and this is what our SWIM mobile apps on insecure smartphones provide for HCE and other messaging and transactional services requiring user and device authentication security. The benefits of SWIM based secure mobile NFC payment infrastructure are:
The mobile SWIM secured contactless HCE NFC EMV solution utilises the enhanced PKI user and message authentication security environment for user authentication and non-repudiation
Merchant cost efficiency
The merchant does not need to especially invest in mobile payments as the same contactless points of sales work with physical cards as well as NFC smartphones
Lower issuer costs
In the mobile payments environment, card issuance costs can be reduced by electronic, secure token mobile downloads replacing expensive physical card distribution programs over the long-term
The mobile channel can give consumers the ability to opt-in or -out of applications and services offered by sellers and advertisers on a timely, case-by-case basis to control and limit access to private information
International compatibility with the EMV contactless payments standard
Implementing the international EMV contactless payments standard generates additional benefits for the NFC mobile phone by making mobile transactions more fraud resistant and interoperable at the POS
Economies of scale and cross selling
Mobile NFC technology is also being considered in non-payment and non-banking venues, such as transit and healthcare
Consumer convenience, security and efficiency
Surveys continue to show that consumers want to save time. Tap-and-go payment scheme can overcome the limitations and ineffciencies of ‘self-checkout’ and turn it into a sought-after mode of transacting, particularly when coupled with emerging shopping applications where the phone is used as a scanning device and barcode reader
Increased relevance of marketing, promotions and advertising
The current one-way, one-size fits all broadcast-mode of buyer-seller interaction can be replaced with one-to-one, integrated communications and location-aware, real-time capabilities of mobile transacting