With Slow NFC SIM Take-Up and Apple Pay Looming, Banking Group Expedites HCE and Tokenization Platform

NFC Times Exclusive Insight – With SIM-based NFC not taking off in Taiwan and Apple Pay’s eventual arrival on the island considered inevitable, a consortium of Taiwanese banks is expediting plans to add host card emulation and tokenization to their conventional TSM offer.

It will perhaps be the first, but certainly not the only, banking group that had earlier invested in conventional TSM technology to launch an HCE and tokenization platform, giving their members another option for offering their customers mobile-payment services, especially from their own apps. 

Taiwan knows well how long it takes to get NFC mobile payments off the ground. NFC trials began on the island nation in 2007 and two telcos there awarded among the first TSM commercial contracts anywhere in 2008. It was all much too early.