EINDHOVEN, Netherlands, Oct. 26, 2015 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ:NXPI), co-inventor of near-field communication (NFC), today announced a collaboration with MasterCard to simplify the onboarding of secure element-based devices by integrating NXP’s Loader Service solution into MasterCard’s payment ecosystem. Through MasterCard’s new program, which aims to enable any IoT device to become a payment device, the companies are revolutionizing how OEMs and banks deploy secure “pay” solutions to the market.
By incorporating NXP’s Loader Service solution into MasterCard’s ecosystem, device manufacturers can easily enable their customers to use their new devices, such as activity trackers, mobile phones, smart watches, smart jewellery, etc., for convenient and secure mobile payments. NXP’s Loader Service provides the scalability and flexibility necessary for running highly secure services, which enables OEMs and Service Providers to easily deploy “Pay” solutions by significantly simplifying the value chain of deploying credentials to devices and lowering associated costs.
“With the mobile payment market evolving at an increasingly rapid pace, it is vital OEMs are able to quickly adapt to changing demands and deploy new technologies securely,” said Jeff Miles, VP of Payments at NXP. “Through support from companies like MasterCard, we’ve simplified the process of deploying secure mobile services, such as payments, transit, or access control, to create a true plug-and-play solution, drastically reducing the time it takes for OEMs to bring products to market and providing consumers with a complete, industry leading security solution.”
As the market leader in secure transaction technology, NXP’s Loader Service provides the highest level of data protection and encryption to end users, issuers, payment network operators and manufacturers. By loading an applet into NXP’s secure elements, the solution will work with NXP’s full range of secure mobile transactions products, such as PN66T, providing an EMV certified solution deployable on a global scale and compatible with both legacy and future payment infrastructure.
“MasterCard is working closely with NXP and OEMs to ensure that the payments revolution gains momentum through turnkey solutions that make it easier than ever to establish a secure platform to do business,” said James Anderson, Group Executive, Platform Management at MasterCard. “Bringing NXP’s Loader Service Solution into our ecosystems enables manufacturers to spend more time focusing on the user experience and less time on supporting the infrastructure and maintenance when adding secure transactions to their devices.”
About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ:NXPI) creates solutions that enable Secure Connections for a Smarter World. Building on its expertise in High Performance Mixed Signal electronics, NXP is driving innovation in the application areas Connected Car, Security, Portable & Wearable and Internet of Things. NXP has operations in more than 25 countries, and posted revenue of $5.65 billion in 2014. Find out more at nxp.com.
This document includes forward-looking statements which include statements regarding NXP’s business strategy, financial condition, results of operations and market data, as well as other statements that are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after NXP distributes this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in NXP’s SEC filings. Copies of NXP’s SEC filings are available from the SEC website, www.sec.gov.
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NXP Semiconductors Netherlands B.V.