NXP, Mastercard and Visa Transform Mobile Payments for Billions of IoT Devices

NXP Semiconductors N.V., in collaboration with Mastercard and Visa, announced the launch of its new mWallet 2GO, a white label wallet service developed on the NXP Secure Service 2GO Platform.
 
With the new service, NXP is first in the industry to offer the full scope of mobile wallet development in one solution including leading hardware technology, surrounding software and ecosystem integration. The payment solution is designed to ease development, reduce cost, and accelerate time-to-market for OEMs to add mobile payment capability to any wearable, mobile or IoT (Internet of Things) device.
 
Montblanc, the German manufacturer of luxury writing instruments, watches, jewelry and leather goods, is the first company to launch its own mobile wallet solution based on mWallet 2GO for its new TWIN smart strap.
 
“In this new stylish, smart strap, we’ve combined high-end materials with the most advanced technologies on the market to bring our customers easy, secure payment capabilities for their beloved watches – so they can delight in fashion and convenience while at the same time don’t miss out on digital use cases,” said Dr. Felix Obschonka, Director for New Technologies at Montblanc.
 
“mWallet 2GO extends our market-leading silicon offering to a truly full service and system solution for mobile payment,” said Rafael Sotomayor, SVP of secure transactions and identification solutions at NXP.
 
This first true end-to-end solution integrates NXP’s advanced technologies including Near Field Communications (NFC), Secure Element (SE), NFC middleware, SE JavaCard operating system, SE applets, SEMS (Secure Element Management Service), wallet application and software developer kit (SDK), wallet server and MDES (Mastercard Digital Enablement Service) and VTS (Visa Token Service) tokenization platforms, to offer OEMs a pre-certified and validated turnkey solution.
 
“We are very pleased to have NXP as our latest partner in the space of connected consumer devices, which will result in simpler, more secure and convenient ways to pay for every shopper, while enabling issuing banks to further differentiate their product offerings,” said Paolo Battiston, EVP, Digital Payments and Labs for Europe at Mastercard.