Payment card issuing financial institutions in Europe are embracing cloud-based host card emulation (HCE) for mobile payments using Android phones, either in their mobile banking apps or as a stand-alone branded payment app. Although they might support Apple Pay, Samsung Pay, Google Pay (formerly Android Pay), and other third-party providers today, issuers want to avoid being disintermediated from their cardholders over time when those third-party payment-only apps become more functional wallets. With HCE, the issuer’s brand is in front of the cardholder for every transaction. Differentia...