Entrust Empowers European Issuers to Develop NFC Issuer Wallets on iOS
Entrust, a global leader in identity-centric security solutions, has officially announced the launch of its NFC Issuer Wallet Solution for iOS. This new offering enables European financial institutions to develop their own digital wallets within their banking applications, complementing their existing Apple Pay Wallet integrations. This milestone marks a significant shift in the financial services landscape, allowing institutions to provide a seamless and secure payment experience directly within their own apps on Apple devices.
Transforming Digital Payments with NFC on iOS
Mobile NFC (Near Field Communication) payments, commonly referred to as tap-to-pay, have become the preferred method for a growing number of consumers worldwide. Until now, iOS users had limited options, with Apple Pay serving as the dominant digital wallet due to a lack of alternative solutions. The introduction of Entrust’s NFC Issuer Wallet Solution addresses this gap by providing financial institutions with the ability to integrate tap-and-pay functionality directly into their banking apps, offering a new level of convenience and control to their customers.
A Landmark Decision by the European Commission
The introduction of this new capability follows a crucial decision made by the European Commission in July 2024. After a four-year antitrust investigation, regulators mandated that Apple open access to the NFC input on iOS devices in Host Card Emulation (HCE) mode, free of charge. This ruling represents a pivotal moment in the payments industry, fostering increased competition and innovation in the European financial sector.
Previously, Apple Pay maintained exclusive access to the NFC functionality on iOS, limiting financial institutions’ ability to develop independent digital wallets. With this restriction now lifted, banks and credit unions can now leverage Entrust’s solution to offer NFC payments directly within their own banking apps, creating a more integrated and branded customer experience.
Key Benefits of the NFC Issuer Wallet Solution for iOS
Entrust’s new NFC Issuer Wallet Solution provides several advantages for both financial institutions and their customers. By transforming their mobile banking apps into digital wallets, banks can offer:
- Enhanced Customer Convenience: Cardholders can digitize their payment cards and perform tap-and-pay transactions using both Apple and Android smartphones.
- Full Control Over the Customer Experience: The solution allows banks to maintain a consistent user interface and branding, offering an experience comparable to Apple Pay but within their own app.
- Strengthened Customer Relationships: By integrating NFC payments directly into their banking apps, institutions increase the likelihood of becoming the preferred payment provider for their customers.
- Default Payment App Option: Unlike the current setup where Apple Pay is the default payment method on iOS, cardholders can now set their bank’s digital wallet as the primary payment option.
- Leveraging Entrust’s Expertise: With years of experience in digital payment enablement, Entrust provides a robust and secure platform for financial institutions looking to develop their own NFC-enabled wallets.
These benefits align with the growing demand for digital-first financial solutions, enabling banks to deepen engagement with their customers while maintaining control over the payment ecosystem.
The Road Ahead: Pilots with European Financial Institutions
Entrust has already initiated pilot programs for the NFC Issuer Wallet Solution for iOS with several Tier 1 European financial institutions. These early adopters are testing the technology to assess its performance, usability, and customer reception before a broader rollout.
The pilot phase is critical in refining the solution and ensuring that it meets the highest security and usability standards. Given Entrust’s track record of success with Android-based NFC wallets, the company is well-positioned to extend these capabilities to iOS users effectively.
A Competitive Shift in Digital Payments
The European Commission’s decision to mandate open NFC access on iOS is expected to have far-reaching implications for the digital payments landscape. With Apple Pay no longer the sole option for iOS users, financial institutions now have the flexibility to craft unique payment experiences tailored to their brand and customer needs.
For banks and credit unions, the ability to integrate tap-to-pay functionality directly into their apps reduces reliance on third-party wallets and strengthens their relationship with customers. This shift is particularly relevant as consumers increasingly seek seamless, secure, and bank-branded digital payment solutions.
Entrust’s new offering positions financial institutions at the forefront of this transformation. By providing the tools necessary to develop and deploy their own NFC wallets, Entrust empowers banks to:
- Differentiate themselves in a competitive market
- Strengthen brand loyalty through an integrated digital experience
- Offer enhanced security and fraud prevention measures tailored to their risk policies
- Optimize user engagement with seamless and convenient payment options
About Entrust:
Entrust is an innovative leader in identity-centric security solutions, providing an integrated platform of scalable, AI-enabled security offerings. We enable organizations to safeguard their operations, evolve without compromise, and protect their interactions in an interconnected world – so they can transform their businesses with confidence. Entrust supports customers in 150+ countries and works with a global partner network. We are trusted by the world’s most trusted organizations.
