The bank claims to be the first one to have created a service based on these specifications.
BBVA, from Spain, has now launched a mobile payments service based on the brand new cloud based specification from Visa for NFC technology transactions that use host card emulation (HCE) tech.
Customers of that bank who have NFC enabled Android smartphones will be able to download a new wallet app.
If those customers download the updated version of the BBVA Wallet app, then they will be able to use the NFC technology in their smartphones to be able to make contactless mobile payments in a range of different shops and cafes, and other locations. Later this year, the update for this mobile wallet will also be available to the bank’s customers in the United States, Chile, and Mexico.
These NFC technology based payments will be available internationally because of the cloud storage of the data.
BBVA explained that instead of being reliant on a secure element located within the handset, this method uses secure data that is stored within the cloud. Because of this, it becomes possible to expand the mobile payments service on an international level. If the service did not employ HCE, then the bank would be required to establish a far greater security infrastructure on the ground through local operators and with SIM card replacement in the various devices that would be using the contactless payments.
According to BBVA, it is the very first bank to be using HCE technology on a commercial level. Earlier this year, both MasterCard and Visa had announced that they had been in the midst of an effort to establish an HCE standard. However, this most recent announcement from the bank seems to place a greater focus on Visa’s own system based on cloud tech and not as much on the important role that HCE is playing in this service.
The announcement of the new NFC technology based cloud storage mobile payments service said “The international expansion of BBVA Wallet has been possible through Visa’s Cloud based payments specification, part of which incorporates the use of Host Card Emulation (HCE) technology.” Currently, there are more than 200,000 users of the BBVA mobile wallet app. Some of the bank’s employees and certain users have already been using the updated version.