The Industrial & Commercial Bank of China Selects NXP's SmartMX2 for Secure and Fast Banking Card Transactions
EINDHOVEN, THE NETHERLANDS--(Marketwire - October 25, 2012) - NXP Semiconductors N.V. (NASDAQ: NXPI) today announced that the world's largest bank, the Industrial & Commercial Bank of China (ICBC), has selected its SmartMX2 high security microcontroller to increase the security and performance of its banking cards. The new cards will have dual interface capabilities that will enable both contact and contactless payments.
The high performance of the SmartMX2(TM) means that banking cards will deliver exceptional user convenience and speed of transactions allowing banks to offer multiple applications all on one card -- for instance, additionally supporting public transport ticketing, providing physical access or government ID. They will also work seamlessly with the contactless infrastructure rapidly being put in place in the country, which is mostly based on NXP technology. ICBC plans to introduce its new cards in 2013 in a bid to improve security and reduce fraud rate.
In addition to banking or credit cards, NXP's SmartMX technology is used in eGovernment applications such as ePassports, citizen cards, electronic health cards and electronic ID cards, plus in public transport smart cards and in NFC-enabled mobile devices, representing one element of an end-to-end security system. NXP has shipped more than one billion SmartMX chips, including 86 out of the 102 countries with ePassport projects.
"As security and performance were the two biggest criteria for ICBC's project, ICBC selected our solution after evaluating international and local vendors," said Ulrich Huewels, vice president and general manager, business line card security with NXP Semiconductors. "Our SmartMX2 technology delivers proven security as well as industry-leading transaction times. Combined with the ensured interoperability with POS devices and ATMs across the world, SmartMX2 provides the best combination of security and performance available in the market."
Based on trusted security, a complete product portfolio and the best contactless performance, NXP is the leader in the overall ID market as well as in key market segments such as transport ticketing, eGovernment, access, infrastructure, RFID/Authentication, payments and NFC. NXP provides the entire ID market with end-to-end solutions, enabling customers to create trusted solutions for a smarter life.
Visitors to CARTES 2012 (Paris, Nov. 6 - 8) can see NXP's SmartMX(TM) technology in multiple solutions developed to authenticate identities and secure transactions (booth 4J 035, Hall 4).
About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ: NXPI) provides High Performance Mixed Signal and Standard Product solutions that leverage its leading RF, Analog, Power Management, Interface, Security and Digital Processing expertise. These innovations are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. A global semiconductor company with operations in more than 25 countries, NXP posted revenue of $4.2 billion in 2011. Additional information can be found by visiting www.nxp.com.
Note to Editors
SmartMX2 and SmartMX are trademarks of NXP Semiconductors. All other brands or product names are property of their respective holders.
This document includes forward-looking statements which include statements regarding our business strategy, financial condition, results of operations, and market data, as well as any other statements which 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. These factors, risks and uncertainties include the following: market demand and semiconductor industry conditions, our ability to successfully introduce new technologies and products, the demand for the goods into which our products are incorporated, our ability to generate sufficient cash, raise sufficient capital or refinance our debt at or before maturity to meet both our debt service and research and development and capital investment requirements, our ability to accurately estimate demand and match our production capacity accordingly or obtain supplies from third-party producers, our access to production from third-party outsourcing partners, and any events that might affect their business or our relationship with them, our ability to secure adequate and timely supply of equipment and materials from suppliers, our ability to avoid operational problems and product defects and, if such issues were to arise, to correct them quickly, our ability to form strategic partnerships and joint ventures and successfully cooperate with our alliance partners, our ability to win competitive bid selection processes to develop products for use in our customers' equipment and products, our ability to successfully establish a brand identity, our ability to successfully hire and retain key management and senior product architects; and, our ability to maintain good relationships with our suppliers. In addition, this document contains information concerning the semiconductor industry and our business segments generally, which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the semiconductor industry, our market segments and product areas will develop. We have based these assumptions on information currently available to us, if any one or more of these assumptions turn out to be incorrect, actual market results may differ from those predicted. While we do not know what impact any such differences may have on our business, if there are such differences, our future results of operations and our financial condition could be materially adversely affected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, we do not have any intention or obligation to publicly update or revise any forward-looking statements after we distribute 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 our SEC filings. Copies of our SEC filings are available from on our Investor Relations website, http://www.nxp.com/investor or from the SEC website, http://www.sec.gov.
FOR FURTHER INFORMATION PLEASE CONTACT:
+49 (0)40 5613 3371
+1 415 593 8465
+86 21 22052615
+65 6603 9022