Press Release


NXP and Xiaomi Announce Mobile Payment Partnership
Mi 5 Adopts the Most Advanced NXP NFC Solution, the Two Technology Leaders Have Collaborated to Increase Efficiency of Public Transit Systems With Intuitive and Secure Mobile Payment Technology

SHANGHAI, China, Feb. 24, 2016 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ:NXPI) and Xiaomi today announced a new milestone in their journey for mobile payments in public transit systems. As a key part of this collaboration, Xiaomi introduced its next-generation flagship Mi 5 equipped with NXP’s Secure Element and Near Field Communication (NFC) solution, which will help accelerate the adoption of mobile payments in China.

The newly launched Mi5 models will allow customers to use tap-to-pay for travelling, seamlessly enter and exit public transport systems without using a ticket or travel card, and enable simple balance checking all while ensuring payment security. The new payment function is already available in Shanghai and Shenzhen, and NXP and Xiaomi will join efforts to promote roll out of the new application in more cities. 

It is reported that there are currently 400 million transit cards in circulation in China, and many card holders are expected to transition to more convenient and secure payment solutions, such as mobile payments via smartphones. As a leading technology provider in China’s Automatic Fare Collection (AFC) market since its rollout in the 1990s, NXP has been driving the migration from card to mobile. The Mi5 smartphone has adopted NXP's industry-leading NFC and secure element solutions, which are optimally designed to address specific transit use cases and ensure a seamless consumer experience using augmented RF performance and security.

“We’re excited to partner with Xiaomi, a true innovator in the mobile and internet space,” said Rick Clemmer, NXP Chief Executive Officer. “Given the rapid expansion of China’s mobile payment market and our strong collaboration with a world-class partner such as Xiaomi, NXP is well positioned to capture the huge potential of this market. We believe our high security standards and the ease of NFC technology coupled with our Xiaomi collaboration will play a fundamental role in advancing smart living in China.”

Mr. Lei Jun, founder, Chairman, and CEO of Xiaomi said, “We’re delighted to adopt the most advanced NFC technology in Mi5, which will offer reliable security and performance to support the city transit system with mobile transaction functionality. Both companies, Xiaomi and NXP, share the vision to drive the development of China’s smart transit systems whilst simultaneously improving user experience.”

China’s mobile transaction market has seen robust growth in recent years. According to PBoC statistics, 4.5 billion mobile transactions worth 18 trillion RMB occurred in Q3 2015, an increase from the previous year of 253% and 194% respectively. As China continues to urbanize over the next decade, the market for smart payment technology in urban transit systems is expected to rapidly increase.

About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ:NXPI) enables secure connections and infrastructure for a smarter world, advancing solutions that make lives easier, better and safer. As the world leader in secure connectivity solutions for embedded applications, NXP is driving innovation in the secure connected vehicle, end-to-end security & privacy and smart connected solutions markets. Built on more than 60 years of combined experience and expertise, the company has 45,000 employees in more than 35 countries.

About Xiaomi
Xiaomi was founded in 2010 by serial entrepreneur Lei Jun, who believes that high-quality technology doesn't need to cost a fortune. We create remarkable hardware, software, and Internet services for and with the help of our Mi fans. We incorporate their feedback into our product range, which currently includes the Mi Note Pro, Mi Note, Mi 4, Redmi 3, Mi TV, Mi Band and other accessories. With more than 70 million handsets sold in 2015, and products launched in Taiwan, Hong Kong, Singapore, Malaysia, Philippines, India, Indonesia and Brazil, Xiaomi is expanding its footprint across the world to become a global brand.

Forward-looking Statements
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.

NXP and the NXP logo are trademarks of NXP B.V. All other product or service names are the property of their respective owners. © 2016 NXP B.V.

For more information, please contact:
NXP Global PR
Tate Tran
Tel: +1408-802-0602
Email: tate.tran@nxp.com

NXP China PR
Ming Yue
Tel: +86-21-2205 2690
Fax: +86-21-2205 2518
Email: ming.yue@nxp.com

Ogilvy PR China
Sharon Tang
Phone: +86-10-85206565
Fax: +86-10-85206600
Email: sharon.tang@ogilvy.com

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NXP Semiconductors Netherlands B.V.

Published

February 24, 2016
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