Operating a flexible and scalable service that enables payments on any IoT device in partnership with Mastercard

NXP Semiconductors announced that it can simplify the integration of its Loader Service solution into Secure Element-based devices by integrating it with Mastercard's payment ecosystem . As Samsung Pay and Apple Pay are engaged in fierce competition for NFC -based IoT payments, expectations are rising regarding which company will gain the upper hand . Accordingly, NXP , a co-inventor of NFC , has launched a secure ' payment ' solution for OEMs and banks through Mastercard's new program to enable payments on any device .

Jeff Miles, Vice President of NXP Payments,“With the support of companies like Mastercard, we have simplified the installation process for secure mobile services such as payments , transit , and access control, launching a true plug-and-play solution that significantly reduces OEM time-to-market and provides consumers with a complete, industry-leading security solution, ” they stated .

Device manufacturers have enabled highly active devices such as mobile phones , smartwatches , and smart jewelry to provide users with convenience and secure mobile payment methods . From the consumer's perspective, it significantly simplifies the procedures required to install certificates on devices and reduces associated costs, enabling OEMs or service providers to easily install “ payment ” solutions .

NXP ’s Loader Service, a leader in the secure transaction technology market, provides the highest level of data protection and encryption to end users , issuers , payment network operators , and producers . This solution provides an EMV- certified solution that is compatible with current and future payment infrastructures and can be installed on a global scale by installing an applet on NXP ’s Secure Elements, enabling operation on all of NXP ’s Secure Mobile Transaction products such as the PN66T .

James Anderson, Group Executive at Mastercard’s Platform Management business unit, stated , “ Mastercard is enabling the payments revolution to gain momentum through turnkey solutions that make the adoption of secure transaction platforms easier than ever, with NXP“We are working closely with OEMs ,” they explained , adding, “By integrating NXP ’s loader service solution into our payment ecosystem, manufacturers can focus more on user experience than infrastructure support and maintenance when adding secure transactions to their devices . ”