SimplyTapp, PromptNow and TIS have created the Asian Payments Cloud initiative to bring the first end-to-end, cloud-based payments products to the banking and financial services community in the APAC region, according to a press release.

The companies said the product enables financial institutions and card issuers to provide a better customer experience to their growing customer segment of Android users by enabling them to use their devices for proximity payments and other real-world transactions. Several major banks in the region have begun carrying out a pilot to begin offering flexible mobile payments to their smartphone customers via the product’s software integration, according to the announcement.

"We believe that HCE and cloud-based mobile payments have the potential to disrupt the current environment," Shimmy Thomas, executive director at PromptNow, said in a statement. "We are very proud to collaborate with technology and service innovators like SimplyTapp and TIS to deliver this pioneering solution to customers in Asia."

"This cooperation is well aligned with our company’s vision," said Masumoto Masahiro, general manager of corporate planning and strategy at TIS Inc. "We will leverage our industry-leading IT services and solutions, including financial-grade data center facilities, and with SimplyTapp and PromptNow, bring together our shared values to achieve goals for future growth."

"This form of mobile payments is the first of its kind in the APAC region," Doug Yeager, SimplyTapp CEO, said in a statement. "It has the potential to significantly change the payments landscape for issuers, merchants and consumers alike. SimplyTapp is focused on propelling NFC HCE mobile payments to widespread adoption across the globe, and this partnership demonstrates its commitment to bringing advanced payment solutions to the region."

"Our bank is focused on innovation and establishing ourselves as a market leader in mobile banking," said Dr. Koson Sapprasert, senior vice president and head of innovation at Siam Commercial Bank. "We are thrilled to carry out a host card emulation pilot as part of our innovation roadmap to engage with new technologies. This will be undertaken in collaboration with the Asian Payment Cloud initiative, formed by SimplyTapp, PromptNow and TIS."