January 11, 2016
Customers of Taiwan’s E.Sun Bank can now use the bank’s mobile wallet app to make host card emulation-based (HCE) mobile payments at contactless terminals. The bank has partnered with Visa to launch this service.
HCE, or host card emulation, is a cloud-based protocol that promises to simplify mobile contactless payment implementations. HCE allows customers to use any near field communication-enabled (NFC) Android phone to pay at a point-of-sale. Having received a boost from payment giants like Visa, many banks are looking to implement this technology.
The support for host card emulation (HCE) technology is growing by leaps and bounds. Since the time it was introduced in the KitKat version of Android, HCE support in smartphones has been growing in a steep curve.
Banks and merchants have collectively spent billions of dollars powering mobile apps to provide the best mobile services to consumers. They see their apps as the preferred low-cost, high-touch channels of interaction that can deliver rich services through mobile devices. With HCE, they can enable their existing banking and merchant apps to become wallets for payments anywhere in the physical environment while allowing them to maintain total control over the brand and user experience.
E.Sun Bank is the first financial institution in Taiwan to add HCE support to its mobile wallet, Visa says. Cardholders with NFC function phones running Android 4.4 or higher can simply download the E.Sun Wallet mobile payment app from the Google Play store. Following a one-time enrolment process, cardholders can simply tap to pay for transactions to enjoy a convenient experience.
The number of Visa payWave card readers in Taiwan has grown to nearly 60,000, adds Marco Ma, Country Manager of Visa Taiwan. Alongside Visa payWave readers, HCE will make the payment experience more comprehensive for both merchants and consumers.
Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. Visa operates one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products.
E.SUN Commercial Bank, Ltd. provides various banking products and services. The company accepts deposit products, including checking, demand, savings, time and treasury deposits as well as negotiable certificates of deposits. It also offers mortgage and unsecured personal loans; foreign exchange, e-commerce and Internet banking, and credit card services; and wealth management services, such as mutual funds, bancassurance and trust services. In addition, the company engages in investment activities.