News from the Wire

Mozido invests in HCE pioneer SimplyTapp

Tuesday, March 31, 2015 — 13:51:13 (EDT)

Austin, Texas, March 31, 2015 – Mozido, the Austin-based global mobile commerce solutions provider, is building on its mobile payments platform through a strategic investment in HCE (host card emulation) technology pioneer, technology owner and market leader, SimplyTapp, the company announced today. The investment gives Mozido access to SimplyTapp’s patented HCE technology platform, enabling cloud-based credentials management capabilities to secure NFC-based mobile payments.

“The mobile payments industry is in the midst of a transformation. With secure element-based NFC mobile payments struggling, the industry is leaning heavily towards a future of more open, HCE oriented mobile payment transactions,” said Michael Liberty, Mozido founder and chairman of global strategic initiatives. “By partnering with SimplyTapp, the pioneer and leader of HCE payments, Mozido will be at the forefront of this transformation.”

Mozido will leverage SimplyTapp’s open card issuance platform to allow merchants to support NFC for more efficient and secure transactions within the merchants’ branded mobile application environment. The investment comes on the heels of Mozido’s majority acquisition of CorFire, a global leader in Trusted Service Management (TSM) services and tokenization. The strength of Mozido’s Mobile Transaction Ecosystem Architecture Framework (MoTEAF™) platform as a service for mobile payments, consumer engagement, and financial inclusion, combined with the specialized capabilities from CorFire’s NFC tokenization and SimplyTapp’s HCE technology, positions Mozido as the leader in both cloud-based and hardware-based secure element, and NFC-based mobile payments.

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 capability 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 has consistently led the industry in the deployment and integration of mobile payments and consumer engagement programs. This investment expands Mozido’s platform and allows its customers to more effectively leverage mobile payments within their consumer’s mobile experience, including stored-value, private-label and network branded cards with a single tap at existing NFC payment terminals. Merchants’ mobile loyalty and engagement applications powered through MoTEAF™ can deliver tokenized offers and customer payments for seamless mobile loyalty and payments application that is interoperable with any payments method.

“NFC payments are shifting now toward HCE as a more open platform than the proprietary hardware-based programs that we’ve seen in the last few years, and SimplyTapp has been a critical force in this evolution,” said Mike Love, president of Mozido. “Our investment in the company allows SimplyTapp to continue to grow and provide leadership in the transition to cloud-based credential management, which will help our customers around the world take advantage of the advancement in mobile payments and commerce.”

“HCE is the core enabling technology for how mobile payments will work going forward,” said Doug Yeager, co-founder and CEO of SimplyTapp. “By partnering and combining our solution with those of Mozido and CorFire, merchants as well as banks can truly benefit from a platform that allows them to innovate and enhance their customer experience.”

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Source: Company press release.