Ukrainian financial services provider PrivatBank has unveiled its cloud-based mobile NFC payments service using host card emulation (HCE).
Available in beta, the new Liqpay app will work with NFC smartphones running on Android 4.4 KitKat to allow users register any MasterCard or Visa card to fund payments made with a tap of their phone at contactless terminals.
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It is reported that HCE will allow any NFC application on an Android device to follow a smart card, letting users pay with their smartphones, while permitting financial institutions to host payment accounts in a secure, virtual cloud.
PrivatBank e-commerce business head, Alexander Vityaz, said: "Consumers will be able to download a beta-version of the Liqpay App starting tomorrow. We decided to use HCE because it is independent and a very easy solution."
