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HCE
When we talk about HCE methodology, many interacting architectural components come to mind. The core terms describing this architecture are listed below, starting with GCM/FCM (Google/Firebase Cloud Messaging), a service for sending push notifications.
Online & Authorization
HCE lets a mobile device's operating system emulate the cards we use daily (credit, debit, gift cards, etc.) to make contactless payments via NFC. In other words, our phones behave like the cards we use for payments.
HCE
We can list the differences between the NFC Secure Element and HCE payment methods as follows: Secure Element requires a mobile operator and stores card data on a hardware chip, while HCE needs no operator and relies on cloud-based tokenization.
HCE
The basic offline transaction rules applied in HCE transactions include the CVM limit for contactless payments, standby mode payments, and PIN entry requirements above the limit.
HCE
The token used in HCE transactions contains more than just a new number derived from the card number. It also includes single-use keys, an expiration date, RSA keys and certificates, transaction limits, and an Application Transaction Counter (ATC).
HCE
There are three types of PIN strategy in HCE (Host Card Emulation): No PIN, Card PIN and Wallet PIN or customer biometric data. Each balances user experience and security differently.
HCE
The HCE cloud-based security infrastructure consists of four main pillars: Tokenization, Risk Management, Session Keys, and User/Device Authentication. Tokenization indicates the type of token generation, and there are three different tokenization methods.
HSM & Security
Secure Element Issuer is the stakeholder that provides, maintains, and updates the secure element in cases where mobile payment application and card data are stored in the secure element inside a mobile phone.
Merchant & POS
Digitalization has brought major change to payment systems, just as it has to every area of our lives. Its biggest impact has been turning the financial world into something virtual, spanning IoT, mobile payments, blockchain and biometrics.
Credit Card
While it is true that, with technological advancement, the trend of using payment transactions without a physical card via mobile phones has increased, there are many reasons why cards are still physically printed and delivered to customers.
HCE
An international standard that defines proximity cards used in Near Field Communication (NFC) and the protocols used to communicate with them. It has 4 parts; Part 4 covers NFC and HCE operations.
Merchant & POS
In payment systems, every exchange between POS devices and bank or payment institution systems runs on a specific messaging standard, generally based on ISO 8583. However, each country, bank, or switch network defines its own version of this standard.