BBVA Bancomer processed the first Host Card Emulation (HCE) transaction in Mexico, according to a statement.
HCE is a technology that relies on the user’s credit and debit card virtualization on the servers of credit institutions and banks.
The operation of the largest financial institution in that country was carried out in the cafeteria and client of the bank, Punta del Cielo Café, using the VX 520, VeriFone’s portable payment solution.
More than 100,000 of these non-contact devices are enabled for Bancomer customers currently in Mexico.
The solution will streamline and extend mobile payments through NFC technology , emulating a smart contactless smart card with securely stored security credentials, either in the cloud or in the host processor of the smart device, not in The device itself.
With NFC’s built-in capabilities, VeriFone solutions provide alternative payments and a host of other value-added applications, including Vida Bancomer – a point loyalty program for BBVA Bancomer cardholders.
In addition, these solutions allow you to create more loyalty programs and other services, including transportation payments.
