According to the report, Mobile Contactless Payments: NFC, iWallet & Host Card Emulation 2014-2018, released by Juniper Research, using a remote, HCE-based Secure Element (SE) can reduce time-to-market which means that banks can retain control of their customers without needing to partner with mobile network operators.
The report also observed that the recent decision of Visa and MasterCard to endorse HCE should reassure banks who may have been concerned about the relative security of transactions.
Finally, the report noted that Apple is most likely to introduce an iWallet in Q4 2014 which could enable secure contactless payment via BLE (Bluetooth Low Energy) and a second air interface.
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