Cardtek, a software developer for financial transactions and a provider of EMV migration products, Wednesday announced that MasterCard Payment Transaction Services has selected it to provide its HCEXpert product, a cloud-based mobile payment platform.

The collaboration will enable MasterCard Payment Transaction Services to offer managed services to its banking customers for NFC payments on smartphones, according to a press release. 

Cardtek said in the annoucement that HCEXpert is an open interface that is intended to simplify the integration process and eliminate costly IT investments while being integrated with MasterCard Digital Enablement Service to provide additional security.

"Our vision for digital payments is to provide the most advanced technologies for the best mobile payment experience across all channels and devices," said Erdal Yazmacı, general manager of Cardtek. "HCEXpert is only one of the software solutions that support this vision. We always have been committed to supporting our partners by delivering top-notch payment solutions."