Token Service Provider Software from Bell ID to Help Banks Integrate with Android Pay
Bell ID, the company focused on mobile NFC payment software, said that they will work closely with Google’s Android Pay to integrate the service with international issuing banks, payment schemes and processors.
The key leverage Bell ID will provide to its customers would be the Token Service Provider (TSP) software, which would allow the banks and payment processors to “enable and secure near field communication (NFC) payments functionality on Android phones,” said the company in a press release.
Payment industry experts close to the matter said that with Bell ID’s TSP, the Android Pay integration process for financial institutions would be much easier. Moreover, it would enable them to focus on their core strength instead of wasting time developing their own in-house transactions via tokenization technology.
Commenting on Bell ID’s TSP, Pali Bhat the Senior Director of Product Management at Google noted that “mobile payments is a big priority for Google and we’re working to support a wide range of issuers to make Android Pay available to everyone.” “Bell ID’s integration takes us one step further in this direction,” he added.
Bell ID was recently acquired by Rambus Cryptography Research, and Martin Scott, the Senior Vice President and General Manager of the company said that “Bell ID is now one of the few solution providers that can help banks to reach their full customer base, regardless of the smartphone they own.”
Mr. Scott also noted that since Bell ID supports a “vast majority of the OEM wallet, mobile operating system and secure element combinations,” he thinks that “2016 is going to be the biggest year yet and we’re excited to be supporting the future of payments.”
“A lot of our customers are keen to integrate with Android Pay and this support enables us to answer this demand,” he said.