EMV-TT: A VIRTUALISED PAYMENT SYSTEM
EMV Tokenised Transactions (EMV-TT) is a new approach to mobile payments that does not require a secure element, and yet remains EMV compatible. With 11 Million NFC Enabled handsets in the UK, EMV-TT using technology such as Host Card Emulation (HCE) on Android and Blackberry (since Blackberry 7) makes it possible for a mobile phone to make a payment on a conventional contactless terminal – without
requiring a secure element.