On August 2015, the two companies had announced that, in order to deliver open loop mobile wallet solutions to ABnote customers, MeaWallet’s cloud-based mobile payment platform would be fully integrated into ABnote’s Europay MasterCard Visa (EMV) payments platform, providing financial issuers with a simple and cost-effective path to EMV-based payments. With the integration now fully implemented, and joint market opportunities and customer projects identified in Mexico, Central America and South America, ABnote and MeaWallet have broadened their alliance to include exclusive distribution rights to ABnote for the region.
The MeaWallet platform will provide an advanced interface layer for ABnote’s wallet solutions that allows customers the ability to enable payment services as well as other services like loyalty, coupons and more in a mobile wallet. The partnership provides existing and new customers the ability to add branded mobile wallets and cloud-based digital mobile payment cards to their portfolio of card products. The open loop mobile cards will initially support MasterCard and Visa cloud based mobile payment schemes. This means that mobile cards issued using the solution will be accepted for contactless and remote payments at merchants around the world that accepts these schemes.
The digital mobile payment cards are using tokenization with cloud-based security and host card cmulation (HCE) technology. The end-users just tap their smartphone at the merchant NFC-enabled POS-terminal to complete the payment. The service will work at all merchants that accept MasterCard PayPass and Visa PayWave transactions.
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