NXP brings NFC payments to home computing

Dutch based NXP Semicondutors has partnered with Intel and MasterCard to provide NFC based controller for mobile transactions.

NXP, is one of the largest producers of semiconductors, and an industry leader in secure banking. The partnership will combine Intel's 4th generation core platform, and their Identity Protection Technology, with NXP's NFC radio controller, PN544PC, to create NFC enabled computing devices that will allow contactless mobile Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term.

The NFC receiver will allow for in-home contactless transactions using MasterCard's MasterPass, for online purchases. Up until now, NFC based transactions were reserved for physical points of sale. Using NFC based transactions when placing online purchases will help with guaranteeing more secure payments and with identifying shoppers to prevent fraud.

“Intel® IPT provides a powerful authentication component for strong two-factor authentication for the online shopping experience, and is widely regarded by security experts as a more secure approach than software-only authentication and more convenient than hardware tokens,” said Praveen Vishakantaiah, VP and GM, Client Solutions and Technologies, Intel PC Client Group.

NXP partnered with Sony in 2002 to invent modern standardized NFC technology. With NFC's growing acceptance and increasing availability, we can expect more NFC wallet services like Google Wallet and Isis to use this technology to offer support for personal computing based NFC transactions.