NXP Semiconductors said on Monday (June 4th) that it has partnered with MasterCard and Visa to launch mWallet 2GO, which aims to provide a secure end-to-end payment solution that helps OEMs and their development teams bring payment functions to various devices. Wearable devices, mobile devices and the Internet of Things.
NXP stated that the mWallet 2GO service is based on a chip product and integrates remote technology from near field communication to application software development kits, main card digital enablement services (MDES) to Visa Token services to implement account configuration.
Among NXP’s publicly available information, its first companies to deploy payment solutions include the German luxury goods manufacturer Montblanc. The company is launching a mobile wallet solution that is tied to mWallet 2GO, which is connected to its new TWIN Smart Strap and enables payments capabilities on the company’s luxury watches.
In an interview, Rafael Sotomayor, senior vice president and general manager of NXP Semiconductor Security Transaction and Identification, said that mWallet 2GO will go beyond the personal computer, mobile phone and tablet to a more fluid ecosystem.
Sotomayor also stated that the Internet of Things is nurturing an environment where you can use the screen on your mobile phone and use the screen in your car. NXP and its partners are creating a unified experience for consumers, wherever they are, what devices they use. As for payment, it is ultimately only part of everyday life. By helping to simplify the design process, the link between NXP, Visa and MasterCard can help OEMs to place payment functions on any device to promote mobile payment adoption.