Verizon invests into HCE market

white rectangle with 'investment' written in it

Mobile operator Verizon has finally disclosed its financial involvement with Simply Tapp, a Host Card Emulation (HCE) provider for Android developers.

An announcement was posted yesterday on the blog of Verizon Ventures, which explained that Verizon were the firm to invest $5.9m in Simply Tapp late last year.

Formed in 2011 under the guidance of co-founder Ted Fifelski, the firm have been able ‘’to give developers access to the tools needed to create a secure, scalable mobile transaction platform that enables a truly outstanding user experience.’’

Simply Tapp allows Android developers to leverage mobile devices through HCE to improve proximity payments using software integration with no dependencies on hardware. Operating on a cloud-based platform, Simply Tapp has invested heavily into the e-commerce market.

The firm has several links with the card issuing, retail, transit and hospitality industry, making it easier for merchants to accept payments and distribute services quicker. Verizon’s investment will now allow Simply Tapp to expand into new markets.

‘‘As we look towards the future of a connected society, we’re excited to support SimplyTapp as it expands its capabilities in allowing mobile devices to exchange sensitive data securely across both physical and virtual environments,’’ explained Vijay Doradla, director of Verizon Ventures.

Doralja will now take a place on Simply Tapp’s board of directors.

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