On Track Innovations (oti), a global leader in cashless payment solutions based on contactless transactions and near-field communication (NFC) technology, has deployed its NFC payment system to Taiwan Mobile Payment (TWMP), a consortium of regional banks in Taiwan. The deployment was delivered through oti's channel partner, Tradelink Electronic Commerce, a Hong Kong-based e-commerce pioneer.
The deployment includes oti's NFC-based WAVE audio-jack plugin device for smartphones, tablets and PCs. According to oti, WAVE device that is certified by MasterCard and Visa, enables banking customers to perform NFC payment transactions, effectively transforming their devices into digital wallets. WAVE connects to the device's operating system via the audio jack, allowing for PIN code authentication and Over-the-Air capabilities, including reloading cash electronically, checking balances, remote personalization, and downloading new applications. oti added that users can add approved credit cards, payment cards, and loyalty cards to their new digital wallets via oti's patented and secure technology.
oti's WAVE device was an integral part of a wider deployment by TWMP of its backend Payment Service Provider Trusted Service Manager platform. The new solution aims to reduce the large upfront costs of integrating relevant payment constituents as well as support business development initiatives in order to spur Taiwan's financial industry and economic development.
Michael Wu, Tradelink's executive director and CEO
TWMP represents a major win for us and their adoption of the WAVE NFC payment instrument represents a growing trend. Tradelink's e-wallet with WAVE, which was first launched in Hong Kong in 2013, provides a safe and cost effective solution to support the growth of NFC payments in the Taiwanese market.
Ofri Shaysh, Asia sales manager at oti
This major launch reflects the increasing global demand for NFC payment capabilities and marks a significant milestone for oti. Major channel partners like Tradelink help us rapidly gain access to new markets and regional banking networks. We expect this large-scale deployment will serve as a model for adoption by potential customers looking to implement safe, secure and cost-effective NFC solutions.
