May 27, 2015
SimplyTapp, PromptNow and TIS have created the Asian Payments Cloud initiative to bring end-to-end cloud-based payments solution to the banking and financial services community in the APAC region. The offering would allow financial institutions and card issuers to provide a better customer experience to their growing segment of Android users by enabling them to use their devices for proximity payments and other real-world transactions. Several major banks in the region have begun carrying out a pilot to offer flexible mobile payments to their smartphone customers via the solution's simple software integration.
Each alliance partner brings specific, complementary expertise to the solution. SimplyTapp's card virtualization and host-card emulation (HCE) is the underlying technology behind the service. TIS Inc.'s financial-grade data centers coupled with PromptNow's implementation services will allow for simple and secure integration and deployment of the technology. With this new solution, Android users of participating banks and institutions will have the ability to use their devices to tap-and-pay at POS terminals. SimplyTapp's technology hosts a virtual payment card on the device, essentially eliminating the need to carry physical cards.
PromptNow is a leading enterprise mobile technology solution provider in Southeast Asia. PromptNow's innovative solutions are enriching the lives of people through their daily experiences in transacting with their banks and financial institutions. PromptNow excels in the development of enterprise mobile applications on multiple OS platforms including iOS, Android and Windows.
Masumoto Masahiro, Dy. General Manager, Corporate Planning and Strategy at TIS Inc., said in an official press release, "This cooperation is well-aligned with our company's vision. We will leverage our industry-leading IT services and solutions, including financial-grade data center facilities, and with SimplyTapp and PromptNow, bring together our shared values to achieve goals for future growth."
In an official press release, SimplyTapp CEO Doug Yeager said, "This form of mobile payments is the first of its kind in the APAC region. It has the potential to significantly change the payments landscape for issuers, merchants and consumers alike. SimplyTapp is focused on propelling NFC HCE mobile payments to widespread adoption across the globe and this partnership demonstrates its commitment to bringing advanced payment solutions to the region."