Mozido LLC has added Host Card Emulation to its mobile payment platform, making an investment in SimplyTapp for access to its patented cloud-based technology.
The investment enables Austin, Texas-based Mozido to offer Near Field Communication payments through any application, while complementing its recent
Host Card Emulation, or HCE, enables mobile devices to initiate contactless payments without requiring access to the secure element. Since the mobile carriers typically control access to the secure element on handsets they sell, HCE enables developers to create mobile wallets without having to confront that hurdle.
By incorporating technology from SimplyTapp and CorFire, Mozido will provide a "plug-and-play" mobile payment option, the company states in a March 31 press release.
"NFC payments are shifting now toward HCE as a more open platform than the proprietary hardware-based programs that weve seen in the last few years, and SimplyTapp has been a critical force in this evolution," Mike Love, president of Mozido, stated in the release.
A provider of white-label mobile wallets and mobile commerce systems for banks and businesses, Mozido also offers tokenization for payment security and loyalty programs, and money management tools for underbanked and unbanked consumers.
Industry experts view HCE as the technology that will eventually bring
Last year,
Mozido did not disclose the amount of the investment it made in SimplyTapp, but the move comes as part of a fast-paced first quarter of 2015 for Mozido. The company hired former MasterCard executive
