Visa’s support for cloud-based payments follows the introduction of Host Card Emulation (HCE) in the Android mobile operating system. HCE allows NFC application on an Android device to emulate a smart card, enabling users to wave-to-pay with their smartphones, while permitting financial institutions to host payment accounts in a virtual cloud.
Visa is set 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, transaction analysis, payment tokens and device fingerprinting technology is set to make up a multi-layered defense against unauthorised account access.
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