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Totally agree with both of you. And I also totally agree that the young generation will use the phone as a payment device, or a card replacement. I am just always believing, that someone will creat a new payment method. But this will not happen as Harin explains. Tech companies don't want yo become financial institutions and bank don't want tech companies in the payment business.

Very good article. There are many countries in Europe that also have a perfect infrastructure for HCE based transactions. Especially Switzerland. I believe that HCE needs tokenization to unfold it's potential. But HCE is definitely good stuff for the payment industry. Cheers.

I think HCE could have the potential to be a total game changer. Banks do not like to be dependent on Telco, therefore the whole NFC mobile payment got stuck. Nothing is happening, besides some small trial phases. HCE now enables banks to cook their own soup, without any help of the Telco’s. That puts the banks back into business and they can control the whole value chain. Unfortunately, HCE is only available on Android 4.4 and higher phones. However, I hope this will change and all phone manufacturer will incorporate HCE. Then HCE could really be a game changer.