The investment gives Mozido access to SimplyTapp’s patented HCE technology platform, enabling could-based credentials management functionalities to secure NFC-based mobile payments.
Mozido will leverage SimplyTapps open card issuance platform to allow merchants to support NFC for enhanced transactions within the merchants’ branded mobile application environment. The investment comes on the heels of Mozido’s majority acquisition of CorFire, a global provider of trusted service management (TSM) services and tokenization.
By combining Mozido’s payment platform with SimplyTapp’s fundamental HCE patents and technology and CorFire’s NFC payments, Mozido will provide a plug and play functionality to banks and other clients to extend their current mobile applications. This will allow their consumers with NFC mobile phones to pay at any NFC-enabled merchant.
Mozido’s mobile payments platform includes mobile financial services, loyalty programs, and mobile offers for business and retail. Through its white-label, cloud-based platform MoTEAF, Mozido enables consumers to manage their money using their mobile phone rather than relying on traditional financial institutions.
SimplyTapp is a developer of cloud-based mobile payment technology. Founded in 2011, SimplyTapp creates open platforms that enable developers to leverage mobile devices for tap-payments and other real-world transactions. The companys first platform leverages host card emulation (HCE) in conjunction with near field communications.
In recent news, Mozido has acquired PayEase payments processor to expand operations in China.
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