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Overview

ProximityPayEdge

Bring NFC-based payments to your bank for quick, convenient and easy payment services for your consumers

A report by a leading analyst firm states that by 2018, 50% of consumers in mature markets will use either smart phones or wearables for mobile payments. This is the age of the connected consumer. The cards and payments industry has seen the mobile revolution change its consumer preferences and the players in its market.  It is no surprise that banks are now counting on their mobility investments to drive business growth and to achieve consumer-centricity.

Solution overview

ProximityPayEdge is a product which enables digitization of credit/debit cards on mobile devices and allows consumers to pay in stores by tapping their mobile devices on point-of-sale (POS) terminals.

It utilizes Host Card Emulation (HCE), tokenization of cards and Near Field Communication (NFC) for payment transaction and provides a highly secure, next-gen in-store payment solution to our banking clients.

ProximityPayEdge brings to issuers:

  • Out-of-box integration with multiple card schemes – Visa and MasterCard
  • End-to-end security
  • Choice of standalone app or integrated banking app for best fit in business.
  • Wide adoption possibility by consumers with Host-based Card Emulation (HCE) supported universally on Android 4.4 and above

How do you benefit as a bank?

  • Get an upstream view of your consumer behavior – with consumer data and analytics directly in control of the bank
  • Make it easy for your customers – Same card can be digitized on multiple devices. Promotions and loyalty features can also be incorporated during the purchase (in partnership with retailers)
  • Enable existing cards for NFC transactions – Banks can enable existing Visa or MasterCard cards for NFC transactions without the additional need to issue new contactless cards
  • Less risk of frauds – with tokenization, active account management and strong security features

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