NXP, MasterCard And Visa Team-Up For Mobile Payments

NXP Semiconductors N.V. in collaboration with Mastercard and Visa, today 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 not missing 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 Manager 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.”
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.

Source: https://cio.economictimes.indiatimes.com/news/enterprise-services-and-applications/nxp-mastercard-and-visa-team-up-for-mobile-payments/64508081


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