MasterCard and NXP Partner to Bring Payments to Any Device

NXP SemiconductorsN.V. (NASDAQ: NXPI), co-inventor of near-field communication (NFC), todayannounced a collaboration with MasterCard to simplify the onboarding ofsecure element-based devices by integrating NXP's Loader Service solutioninto MasterCard's payment ecosystem. Through MasterCard's new program, whichaims to enable any IoT device to become a payment device, the companies arerevolutionizing how OEMs and banks deploy secure "pay" solutions to themarket. By incorporating NXP's Loader Service solution into MasterCard's ecosystem,device manufacturers can easily enable their customers to use their newdevices, such as activity trackers, mobile phones, smart watches, smartjewellery, etc., for convenient and secure mobile payments. NXP's LoaderService provides the scalability and flexibility necessary for runninghighly secure services, which enables OEMs and Service Providers to easilydeploy "Pay" solutions by significantly simplifying the value chain ofdeploying credentials to devices and lowering associated costs. "With the mobile payment market evolving at an increasingly rapid pace, itis vital OEMs are able to quickly adapt to changing demands and deploy newtechnologies securely," said Jeff Miles, VP of Payments at NXP. "Throughsupport from companies like MasterCard, we've simplified the process ofdeploying secure mobile services, such as payments, transit, or accesscontrol, to create a true plug-and-play solution, drastically reducing thetime it takes for OEMs to bring products to market and providing consumerswith a complete, industry leading security solution." As the market leader in secure transaction technology, NXP's Loader Serviceprovides the highest level of data protection and encryption to end users,issuers, payment network operators and manufacturers. By loading an appletinto NXP's secure elements, the solution will work with NXP's full range ofsecure mobile transactions products, such as PN66T, providing an EMVcertified solution deployable on a global scale and compatible with bothlegacy and future payment infrastructure. "MasterCard is working closely with NXP and OEMs to ensure that the paymentsrevolution gains momentum through turnkey solutions that make it easier thanever to establish a secure platform to do business," said James Anderson,Group Executive, Platform Management at MasterCard. "Bringing NXP's LoaderService Solution into our ecosystems enables manufacturers to spend moretime focusing on the user experience and less time on supporting theinfrastructure and maintenance when adding secure transactions to theirdevices."