ABnote and MeaWallet Alliance Broadens to Enhance Mobile Payment Pathways
FREMONT, CA: American Banknote Corporation (ABnote) expands partnership with MeaWallet to leverage its cloud-based payment architecture to deliver open loop mobile wallet solutions in Mexico, Central America, and South America. The integration of ABnote’s Europay MasterCard Visa (EMV) payments platform with MeaWallet’s mobile payment solution will enable financial issuers to easily transect through EMV-based mobile payments in a cost-effective way.
ABnote’s current and new customers will be able to add branded mobile wallets and cloud-based digital mobile payment cards to their portfolio of the card products. “The ABnote partnership with MeaWallet means that our customers will have a faster route to mobile payments, using new innovative products such as customer branded mobile wallets,” said John Ekers, Global CIO at ABnote. Initially, the open loop mobile cards will support MasterCard and Visa cloud based mobile payment schemes. Further the mobile cards initialized and issued using the integrated solution platform will be accepted for contactless and remote payments at merchants across the world.
The digital mobile payment process initializes through the tokenization method and transaction completes when the end-users taps their Smartphone at the merchant NFC-enabled POS-terminal. The start-to-end process will take place considering the cloud-based security and Host Card Emulation (HCE) technology. Further, each merchant utilizing MasterCard PayPass and Visa payWave transactions will be equipped to deliver enhanced EMV-based mobile payment services.
“We are proud to expand our partnership with an innovative technology and services provider like ABnote,” said Lars Sandtorv, CEO at MeaWallet. Both the companies have already aligned in 2015 to deliver open loop mobile wallet solutions to ABnote customers. As a next step towards the expansion, a pioneer in secure payment and identification solutions, ABnote will inherit MeaWallet’s advanced interface layer for mobile EMV-payment solutions. The amalgamation allows customers the ability to utilize payment services as well as other services like loyalty, coupons and more in a mobile wallet.