NXP, Mastercard and Visa Transform Mobile Payments for Billions of IoT Devices
NXP Semiconductors N.V. in collaboration with Mastercard and Visa announced the launch of its new mWallet 2GO, a white label wallet service developed on the NXP Secure Service 2GO Platform. With the new service, NXP is first in the industry to offer the full scope of mobile wallet development in one solution including leading hardware technology, surrounding software and ecosystem integration. The payment solution is designed to ease development, reduce cost, and accelerate time-to-market for OEMs (Original Equipment Manufacturers) to add mobile payment capability to any wearable, mobile or IoT (Internet-of-Things) device.
Montblanc, the German manufacturer of luxury writing instruments, watches, jewelry and leather goods, is the first company to launch its own mobile wallet solution based on mWallet 2GO for its new TWIN smart strap.
“Montblanc’s heritage of sophistication and craftsmanship remains true with the introduction of the TWIN smart strap,” said Dr. Felix Obschonka, Director for New Technologies at Montblanc. “In this new stylish, smart strap, we’ve combined high-end materials with the most advanced technologies on the market to bring our customers easy, secure payment capabilities for their beloved watches – so they can delight in fashion and convenience while at the same time don´t miss out on digital use cases.”
“mWallet 2GO extends our market-leading silicon offering to a truly full service and system solution for mobile payment. Following the announcement of MIFARE 2GO, this once again proves how NXP is at the forefront of transforming whole ecosystems,” said Sanjay Gupta, Vice President and India Country Mnaager at NXP. “The company’s success in mobile payment implementations around the world validates NXP’s position to pave the way for new exciting secure payment devices to market.”
This first true end-to-end solution integrates NXP’s advanced technologies including Near Field Communications (NFC), Secure Element (SE), NFC middleware, SE JavaCard operating system, SE applets, SEMS (Secure Element Management Service), wallet application and software developer kit (SDK), wallet server and MDES (Mastercard Digital Enablement Service) and VTS (Visa Token Service) tokenization platforms, to offer OEMs a pre-certified and validated turnkey solution.
“We are very pleased to have NXP as our latest partner in the space of connected consumer devices, which will result in simpler, more secure and convenient ways to pay for every shopper, while enabling issuing banks to further differentiate their product offerings,” said Paolo Battiston, Executive Vice President, Digital Payments and Labs for Europe at Mastercard. “Mastercard teamed up with NXP to provide a simple and better way to ensure security with the NXP Loader Service, and we anticipate a similar traction with mWallet 2GO.”
“As commerce expands from PC’s, smartphones and tablets to connected endpoints of all shapes and sizes, having both the partner network and the right technology in place are fundamental to delivering great experiences,” said Matt Dill, senior vice president, global products and solutions, Visa Inc. “Through the work NXP is doing, consumers will ultimately have even more ways to pay that are fast, secure and convenient to their daily lives.”
NXP’s Secure Service 2GO Platform is the breeding ground for multiple secure services to grow. Launched in February 2018, MIFARE 2GO manages digitized MIFARE-based transit credentials onto IoT devices. Being available for commutes with Las Vegas Monorail and fully integrated in Google Pay, the secure service is exposed to over two billion active Android users. These first service releases, mWallet 2GO and MIFARE 2GO, demonstrate the company’s commitment to think beyond silicon solutions, moving to fully integrated services and platforms as a business model. The end-to-end solutions connect service providers with IoT OEMs, allowing them to quickly innovative products that deliver the best in cloud-to-node security and scalability.
@Technuter.com News Service
