SOURCE: NXP Semiconductors

NXP Semiconductors

May 07, 2014 14:40 ET

NXP Semiconductors Blog: Plastic Is Dead, Long Live Plastic!

SAN JOSE, CA--(Marketwired - May 7, 2014) - NXP Semiconductors is a leader in EMV chip for credit, debit, and pre-paid cards. This chip has success in reducing fraud and providing a channel for innovation.

This year more than 300bn non-cash payment transactions will take place globally, representing over 50% of all payments. Of these, 300bn plus non-cash transactions, over 200bn, will be made with a plastic payment card; that is a debit, credit, or pre-paid card.

Of the 3.5bn payment cards issued this year, over 2bn will be chip cards. But the question is whether the chip cards that are replacing magnetic stripe cards will themselves be replaced by other payment form factors? And will that be mobile payments or something else?

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