Capital One Reveals Reasons for Quitting Isis, Early Role in Promoting HCE

Capital One Financial’s vice president of digital commerce has spelled out publicly for the first time why the large U.S. credit card issuer dropped its support for the Isis Wallet and also revealed the bank’s early role with MasterCard Worldwide in developing host-card emulation for payments.

Paul Moreton, who leads mobile and emerging payments strategy at Capital One, one of the largest U.S. credit card issuers, said he believes issuers could be ready to launch HCE in the U.S. by the end of this year. These are expected to be largely pilots of the technology, which is still being standardized. 

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Among Topics Covered:

  • Reasons Capital One decided not to participate in the nationwide launch of the Isis Wallet
  • Capital One’s views on secure elements and TSMs
  • Isis’ position on the advantages of its architecture over host-card emulation for payments, which it contends is not as secure or mature as secure elements
  • Capital One and MasterCard’s early advocacy of HCE with Google
  • MasterCard’s deliberate approach to HCE and early work on the technology; comparison with Visa
  • Release plans by Visa and MasterCard for new or first-time versions of their HCE specs
  • Capital One’s view of the inflection point for NFC rollouts 

Sources quoted:

Paul Moreton, VP, digital commerce, Capital One 

Among companies and organizations mentioned:

Capital One
MasterCard Worldwide
Visa
Google
American Express
JPMorgan Chase Bank
Wells Fargo
Royal Bank of Canada
EMVCo 

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