HCE pioneer pulls in $2.5M backing from cloud payments firm Mozido

HCE pioneer pulls in $2.5M backing from cloud payments firm Mozido

05 FEB 2015

US firm SimplyTapp, an early developer of host card emulation (HCE) technology, raised $2.5 million from Mozido, whose specialism is cloud-based payments.

The additional backing raises SimplyTapp’s total funding to $10.1 million, which it will deploy in ramping up R&D and boosting channel support for global partners.

Mozido, also from the US, has a customer base of retailers, financial institutions and mobile operators.

SimplyTapp’s technology enables merchants to add mobile payments capability to stored-value and private label cards, enabling a single tap at existing NFC payment terminals.

The deal follows Mozido’s acquisition of a majority stake in m-commerce firm Corfire in December 2014. The US vendor was previously wholly-owned by South Korean IT services provider SK C&C.

That deal meant Mozido took over “one of the world’s most successful closed-loop mobile wallet apps” in Dunkin’ Brands (US retailer Dunkin’ Donuts’ wallet), plus it “gained a reach of two billion users through relationships with six of the top 20 mobile network operators (MNOs) in the world”.


Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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