SimplyTapp’s new platform is “an important step in terms of making [HCE] solutions more accessible,” says Rick Oglesby, who follows mobile payments as a senior analyst at Centennial, Colo.-based Double Diamond Group. “It’s a great way to let the ecosystem gain some momentum.”

Also, while the platform’s API credit may appeal to developers and lower costs compared to programs based on the secure element, it won’t make HCE anything close to cost-free. “In-house technology upgrades [financial institutions] will have to make will cost money,” Oglesby says. “There’s significant coding they’ll have to do.”

Digital Transactions, June 23, 2014
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