OpenWay rolls out WAY4 Host Card Emulation

WAY4 HCE allows banks to issue virtual cards on a phone. In this way a bank can make an existing card NFC-enabled on a smartphone, issue a mobile copy of a lost card or create a new card while the plastic version is in production. To use it the customer downloads a WAY4 HCE mobile app from Google Play or the bank website, opens it, selects the service, and links a card to the app or creates a new one. To support the service, WAY4 provides the bank with a cloud where all security data elements are stored and available for authorization.

Moving the security element from the SIM card to the cloud means removal of the need for an intermediary between the bank and the merchant, such as a mobile operator or another TSM. Using this solution, a bank can save on issuing plastic, restoring lost cards and delivering cards.

When a client makes a transaction on a POS terminal, the system contacts the security element in the WAY4 cloud server and gets there a security key that is necessary for the transaction. The WAY4 architecture meets PCI DSS requirements since sensitive information about cards is not kept on the mobile device.

OpenWay Group develops WAY4, an e-payment processing framework for banks, processor, telcos and petrol companies. OpenWay portfolio consists of WAY4 Card and merchant management, ATM and POS switching, omnichannel banking, prepaid cards, ecommerce, mobile payments, digital wallet, DCC, fuel cards, and other solutions.