Mobeewave partners NXP to bring in-person money collection to OEMs

Source: Mobeewave

Mobeewave today announced it will collaborate with NXP Semiconductors to offer original equipment manufacturers (OEMs) the capability to collect money from a contactless card or mobile wallet using a phone.

Combining NXP's expertise in high-performance mixed-signal electronics with the Canadian FinTech company's innovative mobile payment solution, Mobeewave will provide a key differentiator technology for manufacturers of next-generation mobile devices.

Mobeewave's patented technology enables individuals to conveniently and securely accept money in person using a phone's NFC capability. This innovative mobile solution ensures sensitive information related to a transaction is encrypted in a device's hardware and software security.

In the constantly evolving smartphone market, OEMs no longer simply require silicon to compete, they need solutions. With NXP, Mobeewave will address this need by providing a key differentiator solution for OEMs: the ability to enable their users to collect money in person using a mobile device. This solution will become a standard feature of smartphones in the future as mobile devices continue to play a greater role in users' daily lives.

"Allowing payment transactions between two mobile devices over NFC technology requires a highly secure setup. As a one-stop-shop for integrated NFC and embedded Secure Element solutions, NXP provides high level of data protection and encryption to manufacturers and end users alike," said Charles Dachs , senior director of mobile transactions at NXP. "Enabling this level of convenience and security for in-person money transfers will help grow the use of tap-and-pay in China and beyond."

"This global collaboration with NXP Semiconductors represents a tremendous opportunity for Mobeewave," said Benjamin du Haÿs, CEO and co-founder of Mobeewave. "NXP's expertise will enable us to provide a truly innovative solution to original equipment manufacturers around the world." 

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