OTI WAVE NFC payment solution adopted by Taiwanese banking consortium

Wednesday 21 January 2015 10:05 CET | News

On Track Innovations (OTI) has deployed its NFC payment system to Taiwan Mobile Payment (TWMP), a consortium of regional banks in Taiwan.

The deployment was delivered via OTIs channel partner, Tradelink Electronic Commerce, a Hong Kong-based ecommerce pioneer.

OTIs WAVE device was an integral part of a wider deployment by TWMP of its backend Payment Service Provider Trusted Service Manager platform.

The deployment includes OTIs NFC-based WAVE audio jack plugin device for smartphones, tablets and PCs. The patented WAVE device enables banking customers to perform NFC payment transactions, transforming their devices into digital wallets. It also gives banks control over the secure element (SE).

Certified by MasterCard and Visa, WAVE is an audio jack plug-in NFC payment solution. WAVE connects to the devices operating system via the audio jack, allowing for PIN code authentication and Over-the-Air functionalities, including reloading cash electronically, checking balances, remote personalization and downloading new applications.

Users can add approved credit cards, payment cards and loyalty cards to their new digital wallets via OTIs patented technology. This functionality enables retailers to implement services like loyalty programs, location-based advertisements and promotions.

As an additional option, WAVE can support Public Key Infrastructure for e-banking and online authentication, as well as cross border use for international travel.

OTI, a global provider of near field communication and cashless payment solutions, is focused on developing solutions around the world to address NFC payments, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing.

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Keywords: On Track Innovations, OTI, Wave, NFC, payment, Taiwanese, banking, consortium, Taiwan, Taiwan Mobile Payment, secure element, audio jack, loyalty
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce