NBS Technology Announces Visa Inc. Cloud-Based Payments HCE Approval

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Xpressi™ Mobile Wallet software has been approved by Visa Inc.

“We’re excited to be an early participant in the Visa Ready Program. It’s an emerging market with tremendous promise and creates more choice for banks, issuers and their customers.”

NBS Technologies, a leading software and equipment provider for financial card personalization, today announced that its Xpressi™ Mobile Wallet software has been approved by Visa Inc. To meet all of the functional requirements of its Cloud-Based Payments Program and granted participation in the Visa Ready Program for mobile financial card issuance.

“NBS’s XpressiTM Cloud platform and Visa Cloud-Based Payments HCE application provides credit card providers a complete end-to-end solution to the mobile payment market.” commented Robin Ehrlich, Chief Software Architect. “NFC-enabled phones can now be used with confidence for contactless payments. All cryptography is implemented securely in the cloud.”

The support of Visa Cloud-Based payments includes the XpressiTM Cloud platform which is used to securely personalize an application on the phone as well as a Mobile Wallet application for the phone. The software application includes an NBS Technologies developed Android HCE. NBS’s Xpressi™ Mobile Wallet may be branded by financial institutions or incorporated into their existing mobile banking application.

“The XpressiTM Cloud platform allows our customers to use the same software platform to securely personalize NFC enabled phones, issue contact and contactless cards instantly at financial institution branches, and to issue physical cards via central issuance,” commented Alan Fontanella, Director of North American Sales. “We’re excited to be an early participant in the Visa Ready Program. It’s an emerging market with tremendous promise and creates more choice for banks, issuers and their customers.”

About NBS Technologies
For over 40 years, NBS Technologies has continued to be a leading developer and provider of equipment for card personalization, EMV compliance/migration, smart card manufacturing and semiconductor handling equipment. NBS Technologies is a wholly-owned subsidiary of Brookfield Asset Management (http://www.brookfield.com), a global alternative asset manager. Focused on property, renewable energy, infrastructure and private equity, Brookfield has US $200 billion of assets under management and is listed on the New York, Toronto and Euronext stock exchanges, under the symbols BAM, BAM.A and BAMA respectively. NBS Technologies' head office is located in Canada with locations in USA, France and the UK, along with a worldwide dealer network. Please visit http://www.nbstech.com/ for more information.

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Anna Chang
NBS Technologies Inc.
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