Westpac NZ Product Chief: HCE Offers Bank More Simplicity, Control

Aug 1 2014

NFC Times Exclusive: Westpac New Zealand’s product chief told NFC Times he believes host-card emulation will reduce costs and increase flexibility, while ensuring the bank can use its own branded wallet.

The bank, which recently launched a small HCE pilot using a MasterCard PayPass application, plans to launch commercially during the first quarter of next year. While Shane Howell, chief product officer for Westpac’s New Zealand operation, said the bank hasn’t ruled out also putting its payment application on secure elements “over the long term,” it will first try out HCE.  

Westpac, one of New Zealand’s largest banks and part of Australia-based Westpac Group, is a co-owner of the country’s largest processor, Paymark, which in 2012 announced it would form a joint venture, TSM NZ, with the three largest mobile operators, Vodafone New Zealand, Telecom New Zealand and 2degrees. The CEO of the joint venture, Rob Ellis, told NFC Times that compared with HCE, which is a “very new” technology, the JV is building a SIM-based wallet platform that “customers can trust and rely on implicitly.”  

Words: 

1,400 

Sources Quoted:

  • Shane Howell, chief product officer, Westpac New Zealand
  • Rob Ellis, CEO, TSM NZ
  • Neil Livingston, mobile product director, Carta Worldwide 

Among Topics Covered:

  • Westpac New Zealand’s reasons for adopting host-card emulation, despite its earlier involvement and continued co-ownership in the SIM-based TSM NZ joint venture.
  • Details of Westpac’s HCE trial and tokenization system it is using
  • TSM NZ’s launch schedule and plans for its “unique brand,” for its wallet app
  • TSM NZ’s view of SIM-based security and performance versus “very new” HCE technology
  • Identity of at least one other Kiwi bank planning HCE launch
  • View of demand for HCE by Westpac’s technology supplier, Carta Worldwide

Among companies and organizations mentioned:

Westpac New Zealand
TSM NZ
Paymark
Vodafone New Zealand
Telecom New Zealand
2degrees
Carta Worldwide
Gemalto
Capital One 

This is premium content from NFC Times. 

Read Full Article 

© NFC Times and Forthwrite Media. NFC Times content is for individual use and cannot be copied or distributed without the express permission of the publisher.

HEADLINE NEWS

Orange Cash Gets New Life as Part of Orange Bank App

NFC TIMES Exclusive Insight – As expected, Orange will continue offering its NFC-enabled Orange Cash Visa-branded card with the launch of its Orange Bank mobile service.

First HCE-Enabled JCB Cards to Hit Market in Taiwan in First Quarter

Nov 14 2017

NFC TIMES Exclusive Insight – Japanese credit card company JCB will participate early next year in a mobile wallet from the Taiwan Mobile Payment banking joint venture, marking the first time JCB will support host card emulation in a mobile payments service.

Canadians Take to Contactless Cards, but NFC Wallets? Not So Much

NFC TIMES Exclusive Insight – While a well-developed contactless card and POS terminal infrastructure and strong consumer take-up of contactless card payments has often been touted as the gateway to use of mobile payments, that is often not the case. Take Canada, for instance.

New York Approves Delayed Contract for Contactless Fare Collection, Clearing Way for Rides with NFC Wallets

NFC TIMES Exclusive Insight – The New York Metropolitan Transportation Authority board has approved a long-anticipated contract to enable riders to pay with contactless credit and debit cards, including cards loaded into NFC mobile wallets, by 2019–the largest transit authority to do so since Transport for London launched open-loop fare collection in late 2012.

Fitbit Chief Plans to Enable Entire Product Line for Payments with NFC; Challenges Lie Ahead

NFC TIMES Exclusive Insight – LAS VEGAS:  Fitbit CEO James Park today said the large wearables maker plans to enable contactless payments across its entire range of devices over the next few years using NFC technology, a move he said he hopes will help make contactless payments “ubiquitous around the world.”

Major League Baseball to Roll Out Availability of NFC Ticketing in 2018, but Will Stadiums Adopt the Technology?

NFC TIMES Exclusive – Major League Baseball in the U.S. may roll out NFC mobile ticketing next year as part of Apple Pay, although it’s unclear how many stadiums or other venues would be involved, sources told NFC Times.

Apple Promotes ‘Everyday’ Commerce for Apple Pay as It Seeks to Increase Transactions

NFC TIMES Exclusive Insight – LAS VEGAS:  As Apple continues to try to address what many observers consider to be a disappointing showing for its now three-year-old payments service, Apple Pay chief Jennifer Bailey played up the theme “Everyday (commerce) With Apple Pay,” during a keynote at the Money 20/20 fintech show Sunday.

Group Representing Big U.S. Banks Plans to Issue Own Tokens for Cards Carrying Major Brands

NFC TIMES Exclusive Insight – The Clearing House, a group of the largest banks in the U.S., announced its first plans to tokenize cards branded by a major network, as the banks seek to reduce their dependence on tokenization by the major card schemes.

Apple Watch Likely to Lag Behind in Tag-Reading Ecosystem

NFC TIMES Exclusive – As the NFC tag industry responds to iOS 11, Apple Watch isn’t drawing much focus, and use cases for tag-reading on the wearable remain limited.

Mobile Payments Contribute to Slow Decline of Cash

NFC TIMES Exclusive Insight – Mobile payments are one of the key factors driving the gradual replacement of cash with card and digital payments, according to the annual World Payments Report released this week by consulting and IT services firm Capgemini and major French bank BNP Paribas.

Apple Pay Finally Signs Up Second Major Bank in New Zealand

NFC TIMES Exclusive Insight – In certain markets, Apple continues to face resistance from major banks, which, among other things, do not want to participate in an Apple-branded wallet. That’s true in Australia and in such major Western European markets as France, Spain and Italy, where only one major bank in each country is supporting Apple Pay.

Wells Fargo Launches NFC-Enabled ATMs, Though Rollout is One Year Behind Schedule

Oct 16 2017

NFC TIMES Exclusive Insight – Wells Fargo, the third largest U.S. bank by assets, made good on its pledge last March to launch NFC-enabled ATM cash withdrawals by the end of this year, although that is one year behind schedule, and Wells Fargo is far from the first major bank globally to support the technology on ATMs, even in the U.S.