Both companies have combined their capabilities and knowledge to offer an end-to-end mobile payment solution. Nets has developed its core payment platform to support Host Card Emulation (HCE) and tokenisation to facilitate secure mobile payments. OT has existing partnerships and established connections with major digital wallet providers, enabling the digitization of payment cards from enrolment of the card holder to secure provisioning services. With this partnership with OT, Nets can offer banks a fully integrated service.
After platform integration is finalized by the partnering companies, the first banks testing capabilities for upcoming third party digital wallet support will be delivered.
Worldwide, mobile payments are growing very fast, and Nets expects significant growth within mobile payments by 2020. This will be driven by smartphone and tech players who have all launched their pay services as well as by banks launching their own wallets based on HCE and tokenisation technologies.
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