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