HCE Service announced on Thursday (Sept. 29) it launched its SWIM (Software Wireless Identity Module) host card emulation mobile payments platform, which it said provides a new level of trust and security via the use of public key infrastructure (PKI).
In a press release, HCE said card issuers across the world are launching their own branded HCE (host card emulation) enabled digital cards on mobile devices. Rapid mobile payments growth is expected as more cash transactions convert to digital, driven by the “millennial” generation, but the current challenges with any HCE implementation are achieving strong customer authentication, auditability, end-to-end trust and security and reducing implementation costs. To overcome these challenges, HCE Service has launched its PKI-secured HCE card digitalizing managed service — SWIM.
“SWIM has drastically dropped the implementation costs of HCE cloud payments, while adopting open standards (HCE, EMV, PKI, NFC, PCI-DSS, white box cryptography and biometrics),” said Vivek Singh, head of business development at HCE Service, in the press release. “SWIM provides strong customer authentication based on Digital IDs provided to mobile users, and this is compliant to Payment Service Directive 2 (PSD2) requirements.”
According to the company, issuers can launch a secure and certified HCE project in a few weeks now without any significant investment on hardware or development resources. As the adoption of HCE grows within their consumer base, issuers can then decide to either continue down the path of managed service or bring the technology in-house. The company went on to note that the HCE Service solution leverages proven secure technologies: a wireless PKI and best-in-class encryption standards to deliver PKI-secured HCE EMV mobile payments and value-added services to banks and other card issuers, at the lowest possible costs.
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