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The Mobile Payments Ignition Point

How the rise of Host Card Emulation makes deploying consumer-centric mobile solutions possible for financial institutions

By Brian Day 

mobile-payment-smackdown-square-vs-paypal-here-68650ae7abEven the most influential disruptor in the emerging payments landscape has to confront one powerful principle: Consumers continue to view financial institutions (FIs) and card issuers as trusted providers for emerging payments solutions. That said, strongly branded tech companies are gaining ground with consumers. To bring mobile payments to the inevitable (albeit long-awaited) ignition point, tech developers and issuers will have to link up. Host Card Emulation (HCE) technology may be just the innovation to grease the wheels for such a marriage.

To fully understand the potential impact of HCE on the emerging payments market, we have to examine the full picture.

Today, swiping a card or handing over cash isn’t all that hard, so consumers have been slow to clamor for a new payments solution. The industry, however, sees the value in allowing fast, anywhere, anytime payments. Indeed, many industries have a strong history of improving that which wasn’t broken; consider the paperback book turned e-reader, or further back, the horse-and-buggy turned automobile.

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