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, 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 pilots of the technology, which is still being standardized.
Moreton, speaking last week at the NFC Solutions Summit in Austin organized by the Smart Card Alliance, said Isis–the joint venture between Verizon Wireless, AT&T Mobility and T-Mobile USA, offered too little control to the bank for its planned mobile-payments service.