/ciol/media/agency_attachments/c0E28gS06GM3VmrXNw5G.png)
Follow UsEINDHOVEN, NETHERLANDS: NXP Semiconductors, announced on Thursday that its near field communication (NFC) technology will enable the newly announced Google's newly announced electronic payment solution Google Wallet.
The company claims that with NXP's secure contactless NFC solution, consumers can simply wave their phones over intelligent surfaces to pay for goods, apply a discount coupon, or receive loyalty points, said a press release.
Google Wallet allows consumers to replace a multitude of physical cards typically carried in wallets with a NFC enabled phone delivering convenience, personal interactivity and security for many different types of transactions, said a press release.
NXP provides the complete embedded, secure NFC solution for Google Wallet and was instrumental in building this new application with Google.
The NXP PN65 NFC mobile transaction solution incorporates the NFC radio controller, the embedded secure element and NFC software in a single device. The embedded secure element enables the payment part of Google Wallet, and uses advanced cryptography to offer a high level of security for mobile transactions, the release added.
"This latest move by Google is truly unleashing the full potential of NFC. NXP's NFC technology essentially converts smart phones into loyalty cards, single-tap location 'check in' devices, concert tickets, coupon carriers, contactless payment devices, transit tickets, and secure keys to access cars, hotel rooms, buildings, and computers -- the possibilities are endless," said Ruediger Stroh, executive vice president and general manager, Identification Business, NXP Semiconductors.
He added that their technology greatly enhances the mobile user experience from the secure NFC solutions embedded in smartphones and POS terminals, to the NFC tags embedded in smart posters. Their leadership in NFC is supported by our deep understanding of the market, our broad portfolio of patents; and our security, performance and best-in-class transaction times.