NFC Enables Secure Mobile Transactions for Google Wallet

Today NXP Semiconductors N.V. (NASDAQ:NXPI – News) announced that its world leading near field communication (NFC) technology enables the newly announced Google Wallet. NXP joins partners Google, Citibank, MasterCard, First Data, and Sprint, along with other market leaders, in New York to unveil Google Wallet, an open platform enabling mobile transactions. 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. 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.

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. NXP’s security technology has seen extensive global deployment with over 1 billion units of secure elements shipped to support mobile payment and bank cards, access management schemes, mass transit infrastructures, device authentication and eGovernment solutions such as ePassports, driver licenses, national ID and health cards.

“This latest move by Google is truly unleashing the full potential of NFC,” said Ruediger Stroh, executive vice president and general manager, Identification Business, NXP Semiconductors. “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. Our 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. Our 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.”

NFC is a market proven technology co-invented by NXP in 2002. In 2004 NXP co-founded the NFC Forum to lead the collaboration with all industry stakeholders and help standardize the technology. NFC technology evolved from a combination of contactless identification (RFID) and interconnection technologies. Ranked as the number one contactless IC vendor by ABI Research for three years in a row, NXP is the global leader in NFC solutions, field proven in over 150 NFC trials and landmark commercial deployments worldwide.