APAC Issuers Get Cloud-Based Mobile Payments Solution

Three innovators in the payments industry—SimplyTapp, PromptNow, and TIS—have collaborated to offer an end-to-end, cloud-based payments solution to card issuers and financial institutions in the APAC region.

The Asian Payments Cloud initiative that they have devised will allow the banking and financial services community in the region to offer a better customer experience to Android users by enabling the use of their devices for proximity payments and other transactions.

This solution will allow Android users to use their devices to tap and pay at POS terminals.

Each strategic partner brings complementary expertise to the Asian Payments Cloud solution, with SimplyTapp’s card virtualization and host-card emulation (HCE) at its core. TIS Inc’s financial-grade data centers, together with PromptNow’s implementation services, guarantees effortless and secure integration and deployment of this solution.

“This form of mobile payments is the first of its kind in the APAC region,” said Doug Yeager, CEO of SimplyTapp. “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.”

Several leading banks in the region have already kicked off a pilot to start offering flexible mobile payments to smartphone users through the simple software integration of the technology. With the promise that this new solution holds for mobile payments, more financial institutions are expected to follow suit.