Under the agreement, Mozido’s HCE solution will provide a mobile wallet functionality to TWMP that supports both existing consumers using a hardware element-based NFC phones, and consumers using HCE cloud-based NFC phones. Additionally, the company will provide TWMP with tokenization and de-tokenization services.
Charlie Wiggs, president of Mozido CorFire, says they will first launch three or four banks in order to make sure they understand how the product works, the consumer adoption and receptivity and then they will move it into the other banks. A number of banks in the US have also expressed their interest in adopting the new solution, adds Wiggs.
Earlier in October, Mozido announced its mobile payments business expansion in South Africa.
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