Taipei - With the wave of e-banking emerging, financial technology and mobile payment market has become the new blue sea for technology companies. Wistron ITS today officially launched a consolidated mobile payment solution for the financial industry. Wistron ITS provides the payment interface service between credit, debit cards and the HCE payment platform, offering the banking industry a chance of entering the field of mobile credit card payment.
Chris Skinner, author of the global phenomenon Digital Bank, mentioned that the global industry investment in Fin-tech (Financial Technology) in 2011 was just around 1 billion US dollars, and this year, it is estimated to grow exponentially to 30 billion US dollars. These outside industries will create strong competition within the financial industry. Also, according to Gartner, the global mobile payment market year on year growth will be over 30% within the next two years, and is expected to reach 720 billion US dollars by 2017. The growth potential has driven players ranging from technology companies, telecommunication companies, retail businesses and banking/financial services forward, looking for strategic partnerships and a slice of the market share.
At today’s 2016 Finance IT investment Prediction and Development Symposium, Wistron ITS CEO, Dr. Ching Hsiao stated that with the wave of online banking development, Wistron ITS has prepared consolidated cash flow solutions for financial institutions, covering the need for outsourced or in-house developed payment services. This includes mobile commerce (mCommerce), peer-to-peer platforms (P2P), 3rd party payment, bonus collection, topup-payment, e-wallet payment, mobile APPs and so on. The mobile payment solution offered by Wistron ITS, for example, allows for payment interface between credit, debit cards and HCE payment platforms.
The characteristics of HCE technology is that the secure element (SE) is saved in a secure Cloud environment, allowing smartphones to complete mobile payment transaction functionality without the need to change SIM cards, making the service more accessible and convenient. “Mobile payment has to be convenient, we at Wistron ITS believe that we have what it takes to assist various banking sector players to gain footing in the mobile credit card payment market.” Hsiao said.
“With the change in administrative policies and the rapid expansion of the global payment market, the advantage of the financial industry lies in innovation in business model,” Hsiao says, “The technological platform, standardized function design of elements and the overall solution offered by Wistron ITS, can assist financial institutions in facing the challenge of the ever changing market, utilize innovative new technology and create new values.”