MasterCard and NXP partner to bring payments to any device
NXP Semiconductors, co-inventor of near-field communication (NFC), this week announced a collaboration with MasterCard to simplify the on boarding of secure element-based devices by integrating NXP’s Loader Service solution into MasterCard’s payment ecosystem. Through MasterCard’s new program, which aims to enable any IoT device to become a payment device, the companies are revolutionizing how OEMs and banks deploy secure “pay” solutions to the market.
By incorporating NXP’s Loader Service solution into MasterCard’s ecosystem, device manufacturers can easily enable their customers to use their new devices, such as activity trackers, mobile phones, smart watches, smart jewellery, etc., for convenient and secure mobile payments. NXP’s Loader Service provides the scalability and flexibility necessary for running highly secure services, which enables OEMs and Service Providers to easily deploy “Pay” solutions by significantly simplifying the value chain of deploying credentials to devices and lowering associated costs.
“With the mobile payment market evolving at an increasingly rapid pace, it is vital OEMs are able to quickly adapt to changing demands and deploy new technologies securely,” said Jeff Miles, VP of Payments at NXP. “Through support from companies like MasterCard, we’ve simplified the process of deploying secure mobile services, such as payments, transit, or access control, to create a true plug-and-play solution, drastically reducing the time it takes for OEMs to bring products to market and providing consumers with a complete, industry leading security solution.”
As the market leader in secure transaction technology, NXP’s Loader Service provides the highest level of data protection and encryption to end users, issuers, payment network operators and manufacturers. By loading an applet into NXP’s secure elements, the solution will work with NXP’s full range of secure mobile transactions products, such as PN66T, providing an EMV certified solution deployable on a global scale and compatible with both legacy and future payment infrastructure.
“MasterCard is working closely with NXP and OEMs to ensure that the payments revolution gains momentum through turnkey solutions that make it easier than ever to establish a secure platform to do business,” said James Anderson, Group Executive, Platform Management at MasterCard. “Bringing NXP’s Loader Service Solution into our ecosystems enables manufacturers to spend more time focusing on the user experience and less time on supporting the infrastructure and maintenance when adding secure transactions to their devices.”