Be Agnostic: Secure Element, HCE and all the Above
The launch of the iPhone 6 with NFC technology only reinforced something we have been telling our customers for years: focus on the user experience and be agnostic to technology. A consumer mobile payments system should work on all devices using any technology to cover as many consumers and merchants in a given country or region as possible. And this broad coverage has to be achieved while providing consumers with a friction-free user experience.
Sequent works hard to abstract the technology, payments and security complexities from our bank, MNO, and merchant customers to make mobile payments simple for them. We do this by being experts in the enabling technologies, payments systems and security innovations that make mobile payments possible for consumers.
Founded four and a half years ago, Sequent is arguably the most experienced Digital Issuance or “TSM” provider for mobile payments in embedded secure elements, the same kind used by Apple. We deployed commercial mobile commerce systems using embedded secure elements for Sprint and SIM-based secure elements for Rogers, CIBC, Trüb, two Tier-1 global banks. Sequent is also one of just a handful of companies globally to have achieved over the air personalization approval from Visa.
As the market evolves and new technologies such as cloud-based Host Card Emulation (HCE) emerge, Sequent is keeping pace with HCE support in our Digital Issuance platform. Sequent is now deploying HCE mobile payments for clients such as the 3rd largest bank in Europe, Sberbank and others. Sequent has developed powerful IP to enable HCE, tokenization, risk management and other aspects of cloud-based mobile payments.
Our patented app-enablement “Open Wallet Platform” provides APIs so developers can add payment functionality to existing mobile apps. Our app-enablement APIs turn apps into wallets and allow consumers to make payments at physical merchants using NFC, barcode and other technologies. Banks and merchants can focus on the consumer experience through their apps and leave the complexities of technology, payment and security to Sequent.
Beyond payments, key features of the Sequent Open Wallet Platform give apps new capabilities to deliver an excellent consumer shopping experience. With one tap functionality, mobile wallets can transmit multiple cards–such as payment, loyalty, coupons, and offers–all at the same time to a merchant’s point of sale (POS) system. The customer is spared the aggravation of finding and redeeming coupons one at a time and the line moves faster for everyone. This key mobile payments feature is available to any mobile app that uses Sequent’s platform and APIs.
The bottom line is that technology should not hinder but enable innovation. The greatest possibility for innovation comes from being agnostic and leveraging the latest technology to your advantage, while providing a compelling user experience.
This blog is an independent publication and has not been authorized, sponsored, or otherwise approved by Apple Inc. Apple and iPhone are registered trademarks of Apple Inc. Visa is a registered trademark of Visa in the United States and other countries. Other company and product names mentioned may be trademarks of their respective owners.