UPDATED: NFC Times Exclusive – Australian credit union CUA has seen a 16% increase in value of transactions for mobile payments since the launch of its host-card emulation mobile-payments app last summer, though user numbers have remained small 11 months after one of the first HCE commercial launches globally.
The CUA mobile-payments service, the first HCE-based payments service in Asia Pacific and one of the first in the world when it launched last July, had a quick implementation time of just six weeks from the time the credit union signed a memorandum of understanding with technology provider Cuscal to do the launch, according to Chris Malcolm, head of customer insights at CUA.
Malcolm readily states that CUA, along with payments service provider Cuscal, wanted to be first to market with an HCE service, ahead of Australia’s big four banks, thus maximizing the publicity around the launch. To get to market quickly, CUA launched a standalone payments app, what it calls “HCE Lite,” not incorporating it in its mobile-banking app, which would have taken more development time. It uses Cuscal’s white-label redi2Pay HCE wallet app and platform.