Investorideas.com
Search  Follow Investorideas on Twitter  Investorideas is on Facebook  Investorideas is on Google Plus  Investorideas is on Youtube  Investorideas is on Pinterest  Investorideas is on tumblr  Investorideas is on LinkedIn  Investorideas RSS 


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Bitcoin and Blockchain Stocks

 

Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner

#Tech News: NXP ($NXPI) and Garmin ($GRMN) Team-up to Bring Secure and Convenient NFC Mobile Payments to New Fitness Wearables

Garmin Pay wallet, powered by Fit Pay, Inc. (NASDAQ: $NXTD)

Investorideas.com - NXT-ID Inc. (NASDAQ: NXTD)

 

SAN JOSE, Calif. - February 6, 2018 (Investorideas.com Newswire) NXP Semiconductors N.V. (NXPI), today announced that Garmin International, Inc., a unit of Garmin Ltd. (GRMN), has chosen NXP's PN80T embedded Secure Element (SE) and Near Field Communications (NFC) solution for the recently launched vívoactive 3 and Forerunner 645 Music featuring contactless payment capabilities. With NXP's embedded Secure Element technology and innovative Loader Service provisioning solution, Garmin is able to easily and quickly deploy Garmin PayTM in their products without compromising security.

NXP's Loader Service solution simplifies the development and integration of payment functionality while maintaining significantly lower setup and maintenance costs. Users can simply add their card information to the Garmin Pay wallet, powered by Fit Pay, Inc. (NASDAQ: NXTD) which then syncs with their virtual wallet in their watch. As a result, Garmin users benefit from a secure and convenient payment experience while on the go.

"NXP is recognized as the preferred provider in the payment ecosystem, known for our ability to deliver trusted security, authentication, and end-to-end NFC solutions into many of the world's most high-profile applications," said Rafael Sotomayor, senior vice president and general manager of secure transactions and identifications at NXP. "NXP's PN80T SE and NFC solution enable Garmin and others to quickly bring to market secure and convenient payment experiences."

Smart, sturdy and stylish, the vívoactive 3 smartwatch has built-in GPS and comes with over 15 preloaded sports apps. Featuring fitness and wellness monitoring tools like fitness age and all-day stress tracking, the vívoactive 3 is the perfect accessory for playing and paying. The new Forerunner 645 Music features integrated music, performance monitoring tools and advanced running dynamics to help athletes get the data they need. Whether out for a run with friends, gearing up for race day or stopping for a quick bite to eat, the Forerunner 645 Music is easy to wear all day, every day. Garmin major Pay supports Mastercard and Visa debit and credit cards from an increasingly expanding portfolio of issuing banks. Having these cards in their Garmin Pay wallet gives users the same rewards and benefits of the physical cards, with the convenience of having them right on the wrist.

"In collaborating with NXP, we can better provide the ultimate on-the-go lifestyle to our customers," said Dan Bartel, Garmin vice president of worldwide sales. "This technology, featured on the vívoactive 3 and Forerunner 645 Music, enables customers to leave their cash and credit cards at home and securely make purchases where NFC payments are accepted."

"We want to give our cardholders the choice and peace of mind to make more secure digital payments from a variety of connected devices through a tap or touch," said Kiki Del Valle, senior vice president, Commerce for Every Device, Mastercard. "By integrating Mastercard token services with the NXP platform, we will create EMV-like security for every transaction and bring in the simple, speedy and secure payment experience that consumers have come to expect from Mastercard."

About the PN80T NFC Solution

Leveraging its many large volume deployments for mobile phone applications, NXP is now leading the way in delivering mobile payment technology for wearables. The company's PN80T solution is the industry's first 40nm SE and uniquely addresses the critical industry challenges of size, power consumption, security, performance, and ease-of-integration for the growing wearable device market. The innovative chip solution combines best-in-class RF performance, exceptional flexibility in NFC antenna design and state-of-the-art Secure element performance, which results in fast transaction times and field updates – consequently leading to better end-user experiences. Included in the PN80T and the company's PNXX family of NFC modules, NXP's Loader Service comes preconfigured on the module's secure element so that developers have immediate access to the Loader Service. This provisioning solution allows any service provider, small or large, local or global, to easily deploy secure NFC applications.

For more information visit: https://www.nxp.com/products/identification-and-security/nfc:MC_71110.

About NXP Semiconductors

NXP Semiconductors N.V. (NXPI) enables secure connections and infrastructure for a smarter world, advancing solutions that make lives easier, better and safer. As the world leader in secure connectivity solutions for embedded applications, NXP is driving innovation in the secure connected vehice, end-to-end security & privacy and smart connected solutions markets. Built on more than 60 years of combined experience and expertise, the company has 30,000 employees in more than 3l3 countries and posted revenue of $9.5 billion in 2016. Find out more at www.nxp.com.

NXP and the NXP logo are trademarks of NXP B.V. All other product or service names are the property of their respective owners. All rights reserved. © 2018 NXP B.V.

About Garmin International Inc.

The ever-expanding Garmin fitness segment develops technologies to enhance and promote healthy and active lifestyles. Whether users are runners, cyclists, swimmers, multi-sport athletes, or simply looking to stay active throughout the day, there is a Garmin product that can help them reach their health and fitness goals. For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary business units, including automotive, aviation, fitness, marine, and outdoor recreation. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garmin, or youtube.com/garmin.

Garmin International, Inc., is a subsidiary of Garmin Ltd. (GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan, and the United Kingdom. Garmin and vívoactive are registered trademarks, and Garmin Pay, Garmin Connect, and Connect IQ are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

For more information, please contact:

Americas
Tate Tran
Tel: +1 408-802-0602
Email:tate.tran@nxp.com

Europe
Martijn van der Linden
Tel: +31 6 10914896
Email: martijn.van.der.linden@nxp.com

Greater China / Asia
Esther Chang
Tel: +886 2 8170 9990
Email: esther.chang@nxp.co

NXT-ID, Inc. (NASDAQ:NXTD)

is a Featured tech company on Investorideas.com

Visit Profile page: http://www.investorideas.com/CO/NXT/

Get News Alerts on NXT-ID, Inc.
Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure:

Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: Nxt-ID, Inc. (NXTD) is a long term paid news publication and PR client of Investorideas.com. Renewed October 1, 2017 - see details at http://www.investorideas.com/About/News/Clientspecifics.asp




Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max