MeaWallet launches MBC to integrate mobile payments into apps

Source: MeaWallet

MeaWallet launches Mobile Business Components (MBC) that handle the complexity of securing contactless integrated services and APIs.

Using these components to connect an existing or new app or wallet to the MeaWallet Mobile Digitization Platform, will enable service providers to deliver contactless services like payments, access and transit.

“With this set of components, and our already up-and-running Mobile Digitization Platform, any card can be on-boarded and made mobile. Our aim is to help the creators and the businesses with attractive and innovative apps, by easily enabling complex and value adding services like payments, access and transit. We provide the right security levels and at low total cost of ownership,” says Lars Sandtorv, CEO of MeaWallet.

The contactless mobile payment service can be used at NFC-enabled POS-terminals in the stores and at the vending machines that support the existing global payment schemes for contactless payments. MeaWallet already supports other pairing methods like BLE, QR- and barcodes and Wifi.

The contactless payment service is based on licenses for existing and emerging cloud based payment schemes. It uses Host Card Emulation (HCE) and tokenization to increase security, deliver flexibility and improve availability on most of the available smartphones. The new set of tools enables services on smartphones using Android 4.4 and newer operating system releases. MeaWallet is planning to support additional mobile platforms next year.

“Next year we will launch more mobile business components. These will enable mobile payments for in-app, m- and eCommerce purchases and more. Our aim is make it easy for the user to pay and to enable secure, fast and cost effective payment methods for the merchants”, continues Lars Sandtorv.   

MeaWallet Mobile Business Components in short:

  • Mobile Business Components (MBC) enables mobile payments, access and other card-based instruments into existing mobile applications.
  • The MBC portfolio works as a layer of components between device OS API’s and the mobile application.
  • MBC is connected to MeaWallet’s Mobile Service Platform for handling of mobile card services.
  • Any card can be provisioned, distributed and activated using the MeaWallet Digitization Platform.
  • The digitization platform handles tokenization and de-tokenization, key management and distribution, data security and integrity, and handset mutual authentication – all at bank level security.
  • Example of cards that can be mobile enabled using MeaWallet’s technology and services are: payment cards (debit, credit, prepaid), loyalty, coupons and gift cards, access and transit cards and membership cards.

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