The MeaWallet cloud-based mobile payment platform will be used to enable payment services as well as other services like loyalty, coupons and more in a wallet made for the Philippine Market. The partnership enables existing and new customers of ValueCard 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 in the Philippines and around the world that accepts these schemes.
The digital mobile payment cards are using tokenization with cloud-based security and host card emulation (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.
Value Card & Mobile Payment Services Corporation (ValueCard) was established in 2009 and is a Philippine-based SEC-registered company. ValueCard has developed an enhanced approach for open loop/closed loop card and mobile payments: the “ValueCard Payment Ecosystem” for contactless, EMV PIN debit and credit payments on terminals, readers, smartphone, tablets and enterprise devices.
MeaWallet is a technology provider of end-to-end managed mobile platform services and business components, enabling contactless and remote mobile services to banks, access control providers, mobile network operators and retailers. MeaWallet works with worldwide partners including IBM, Tieto, Elavon,PayEx, Retain24, ABnote, Visa and MasterCard to deliver a solution that supports access cards, coupons, loyalty cards, ID cards, tickets and mobile receipts as well as payments.
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