Bankinter Launches Easy And Secure NFC Mobile Payments With MVC And HCE

Spanish bank Bankinter is making mobile payments easier and safer. In 2014, it plans to roll out a new service using HCE (Host Card Emulation) and NFC technology. This will be added to its existing Mobile Virtual Card (MVC) system, launched the year before.

With this new upgrade, customers can link their credit or debit cards just once and then pay in stores using contactless NFC—just by tapping their phones.

How It Works

To use the service, users must:

Download the MVC app to their smartphones.

Link one or more credit or debit cards.

Once set up, they can make EMV-standard payments in stores—no need for internet and no changes to payment terminals.

Safe and Simple

Bankinter says the system uses secure virtual technology with double security. Even better, it works with the EMV standard, so it can be used at most payment terminals without upgrades.

Since HCE is used, no special SIM cards are needed. The secure data stays on the phone, and no network is needed at checkout. This makes it both safe and fast.

Benefits for Banks Too

Banks can:

Customize their branding in the payment app.

Create and issue virtual cards remotely.

Skip working with third-party partners.

The MVC system is based on a secure patent-pending technology. It’s made for banks that want to support mobile payments while staying EMV-compatible.

Looking Ahead

Bankinter tested the system for a full year to make sure it works well with EMV and is safe. The bank believes this new method could solve many problems that slowed down NFC and POS terminal adoption.

They also believe HCE—first developed by BlackBerry and improved by Google—will soon be supported on iOS and Windows Phone, making it even more widely available.

In short: Bankinter’s MVC + HCE solution is a simple, secure, and smart way to bring contactless mobile payments to everyone.