Wirecard extends mobile wallet platform through HCE technology

HCE enables NFC-based transactions for payments and services via mobile apps, regardless of whether a physical secure element (SE) is available on the mobile phone. All data generated during a transaction is therefore no longer stored on a hardware component, but instead on a secure centralised server.

NFC host card emulation technology is already standard in Android devices starting Version 4.4. This feature makes it possible to create NFC payment cards for Android smartphones. They can then be combined with other mobile payment systems, loyalty and voucher offers as well as other services. In order to encrypt sensitive card data, Wirecard emulates a one-off token per transaction, which is used in the EMV transaction. This replaces the original card data, which is saved in a PCI-compliant database in a secure server environment. It is not necessary to change either the sensitive authorisation system of banks or the POS terminal of retailers for this Wirecard solution and no data connection to the internet is required for payments.

Wirecard is an international provider of electronic payment and risk management services. Worldwide, the Wirecard Group supports over 12,000 companies from various industry segments in their efforts to automate their payment processes and minimize cases of default.

In recent news, Wirecard has teamed up with Demandware, a provider of digital commerce solutions, to support international textile and clothing companies in their ecommerce expansion.

For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.