I'm wondering if it is possible to create mobile app running on phone with nfc support to behave transparently like contactless payment card. User launch this app and put the phone to contactless terminal and then will be accomplished some communication between terminal and phone.
The goal is to provide payments between our users and merchants with contactless terminal. Our users are users of our application which is some sort of e-wallet. They have some credit in the wallet and we want them to spend the money for example in supermarket.
We assume that we will have agreement with merchants, but I want to know, if merchant can use contanctless terminals they have, without any HW or FW modifications. Or the terminals are hard-wired to VISA or EC/MC and accept only theirs cards?