Visa has announced support for new options to securely deploy mobile payment programs, including for the first time an option to host Visa payWave-enabled accounts in a secure, virtual cloud. Visa says that "the move expands Visa’s support for mobile payments globally and will give financial institutions greater choice in offering consumers secure ways to pay with smartphones."
Our clients and partners around the globe are continuously looking for flexible, cost efficient and secure ways to enable mobile payments,” said Elizabeth Buse, Executive Vice President, Global Solutions, Visa Inc.
“The Android HCE feature provides us with a platform to evolve the Visa payWave standard, support the development of secure, cloud-based mobile applications, while at the same time offer greater choice to our clients.”
Visa said its support for cloud-based payments follows the introduction of a new feature in the Android mobile operating system called Host Card Emulation (HCE); HCE allows any NFC application on an Android device to emulate a smart card, letting users wave-to-pay with their smartphones, while permitting financial institutions to host payment accounts in a secure, virtual cloud.
Visa also plans to deploy several layers of security to protect payment accounts in the cloud, including at the Visa network, application and hardware levels. One-time use data, real-time transaction analysis, payment tokens and device fingerprinting technology make up a multi-layered defense against unauthorized account access.