Following the agreement, the companies are set to bring host card emulation (HCE) NFC mobile payments to Latin America. YellowPepper will expand its existing product line to include HCE technology.
HCE is a software-based solution that allows an NFC enabled device to provision a card and make secure, contactless transactions without the need to access a hardware secure element (SE).
Carta Worldwide will provide their HCE technology to YellowPepper that will, in turn, leverage its regional footprint with more than 50 financial institutions and retailers to introduce the new technology to them and future clients.
YellowPepper allows banks, mobile network operators, merchants and consumers to carry out mobile financial transactions. The company currently has operations in nine countries, including Mexico, Peru, Ecuador and Guatemala.
In February 2015, YellowPepper closed USD 19 million in a Series C funding round, bringing its total funding to USD 34 million to date.
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