SOURCE: NXP Semiconductors

NXP Semiconductors

November 19, 2013 03:00 ET

NXP Enables NFC and Secure Internet Payment for Consumers

NXP Teams With Intel and MasterCard to Promote Faster, Secure and Easier Online Payments Through NXP's Market-Leading NFC Solution

EINDHOVEN, THE NETHERLANDS--(Marketwired - Nov 19, 2013) -  NXP Semiconductors N.V. (NASDAQ: NXPI) today announced that the PN544PC, a derivative of the most widely adopted near field communication (NFC) radio controller (PN544), is being integrated into select new computing devices. Intel's 4th Generation Core™ platform with Intel® Identity Protection Technology (Intel® IPT) together with the embedded NXP NFC solution will provide a basis for secure and convenient e-commerce transactions. This feature will let online shoppers using MasterPass, the new digital service from MasterCard®, pay by simply tapping their MasterCard contactless card or NFC-enabled mobile phone against the built-in NFC reader and securely complete the transaction with positive identity authentication via Intel® Identity Protection Technology.

Forecasts from eMarketer predict that online shoppers in the United States will spend a staggering $262 billion in 2013, which represents an impressive 16.4% year-on-year growth. Of the $262 billion over 16%, or $41.68 billion, will come from mobile commerce; purchases made on a smartphone or tablet.

Intel co-specified NXP's PN544PC to capitalize on the expanding e-commerce opportunities and, through close collaboration with MasterCard have powered a convenient and versatile solution for e- and m-commerce. Use of the solution with MasterPass provides additional security safeguards for online purchases. Chip-enabled, or contactless, credit cards have already significantly reduced fraud in card present or face-to-face transactions. Now, Intel® IPT provides additional layers of security and identity authentication on top of those already provided by MasterPass ensuring that the NFC-enabled contactless card based transactions for online shopping are fast, simple and protected.

"Intel® IPT provides a powerful authentication component for strong two-factor authentication for the online shopping experience, and is widely regarded by security experts as a more secure approach than software-only authentication and more convenient than hardware tokens," said Praveen Vishakantaiah, VP and GM, Client Solutions and Technologies, Intel PC Client Group. "So not only is the online shopping experience on a 4th generation Intel® Core™ processor based device with a NXP NFC solution improved and more convenient for shoppers, but it is a safer transaction. People can rest assured their shopping websites know it's really them."

"This is truly the next wave in NFC-enabled user experience. Combining our deep understanding of NFC with our global leadership in secure banking solutions helps deliver exactly what consumers are asking for -- a secure and easy way to shop online," said Rutger Vrijen, vice president and general manager, RFID tagging and infrastructure business, NXP Semiconductors. "Continuous innovation, advanced technologies and ultra-secure transactions will transform how we shop online and, by working with industry leaders, such as Intel and MasterCard, NXP remains at the forefront of developments."

NXP's NFC solutions continue to grow the NFC ecosystem with mobile phones, tablets, notebooks and now, Ultrabooks™ 2-in-1 and All-In-One PCs. NFC-enabled Intel based computing devices are now available from major computing device manufacturers.

NFC is a market-proven, standardized technology co-invented by NXP and Sony in 2002. NXP is at the center of this ecosystem, fuelling its development by partnering with major handset and equipment manufacturers, mobile OS providers and applications developers. NXP is the global leader in secure banking solutions, and leverages its leadership in contactless and security technologies to provide complete and trusted smart life solutions.

For more information, visit:
NFC Solutions from NXP
Secure Banking Solutions from NXP
Intel Ultrabook
Intel Identity Protection Technology
MasterPass by MasterCard

About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ: NXPI) creates solutions that enable secure connections for a smarter world. Building on its expertise in High Performance Mixed Signal electronics, NXP is driving innovation in the automotive, identification and mobile industries, and in application areas including wireless infrastructure, lighting, healthcare, industrial, consumer tech and computing. NXP has operations in more than 25 countries, and posted revenue of $4.36 billion in 2012. Find out more at www.nxp.com.

Forward-looking Statements
This document includes forward-looking statements which include statements regarding NXP's business strategy, financial condition, results of operations and market data, as well as other statements that 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. Readers are cautioned not to place undue reliance on these forward-looking statements. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after NXP distributes 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 NXP's SEC filings. Copies of NXP's SEC filings are available from the SEC website, www.sec.gov.

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