OpenWay has developed WAY4 Host Card Emulation software – supporting cloud technology specified by Visa and providing value-added financial services for customer attraction and engagement via mobile.
WAY4 Host Card Emulation allows banks to issue virtual cards on a phone instantly. In
OpenWay launch WAY4 Host Card Emulation
this way a bank can make an existing card NFC-enabled on a smartphone, issue a mobile copy of a lost card, or create a new card while the plastic version is in production.
To use it the customer downloads a WAY4 Host Card Emulation mobile app from Google Play or the bank website, opens it, selects the service, and links a card to the app or creates a new one. To support the service, WAY4 provides the bank with a cloud where all security data elements are stored and available for authorization.
Moving the security element from the SIM card to the cloud means removal of the need for an intermediary between the bank and the merchant, such as a mobile operator or another TSM. As a result, the project to launch the NFC service is simple and quick with lower costs. Using this solution, a bank can save on issuing plastic, restoring lost cards, and delivering cards. The service improves a customer experience, increasing client loyalty and strengthening the bank’s brand.
“The ability to issue NFC cards ‘on the fly’ opens new horizons for client attraction. Banks can offer prepaid virtual cards to potential clients outside their traditional branches – via ads on the Internet, mobile branches or events,” says Alain Vansnick, Sales Director, OpenWay.
“For example, a combined co-branded virtual payment card with NFC pass and loyalty functionality can be designed for a musical festival and distributed through a special app for any participant. The customer can top up the new NFC card from any financial instrument.”
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