NXP expands support for the electronic payments market
NXP Semiconductors expands its support for the electronic payments market by introducing a point-of-sale (POS) reader solution platform, SLN-POS-RDR, to enable customers to quickly develop and launch secure, contact and contactless payment systems into the market. The rapidly evolving market of electronic payments introduces new, innovative form factors, use cases and integration levels for the latest payment devices.
As a result, more secure and easier to use payment techniques are coming from multiple sources – from market leaders to start ups, as well as new entrants from companies that offer services to retailers but traditionally have not offered payment services. By delivering a proven and certified POS reader solution platform, NXP enables designers to jump start their development and focus on innovation beyond the classical barriers to entry.
“We have worked with a broad base of customers during the development of the POS reader solution platform and expect to see a wide range of end products based on this secure payment solution,” said Rudy Stroh, Executive Vice President of Security and Connectivity at NXP. “It pushes the doors wide open to those looking to embrace market opportunities, where non-traditional payment form factors and innovative use cases are allowing new business models for payments to emerge.”
From TV remote controls and set-to-boxes in connected services for the smart home, to tabletop payment systems in restaurants and smart retail environments, the POS reader solution platform aspires to move secure, convenient contactless payment capabilities and adoption from infancy to mass deployment.
The solution platform is the first to leverage and combine NXP’s market leading contact payment card reader silicon (TDA8035HN) and a high-power NFC contactless frontend solution (PN5180) from the legacy NXP portfolios as well as a Kinetis secure microcontroller (K81). The solution platform will be PCI 4.1 certified as a PIN Entry Device (PED) and the contact and contactless stacks will be EMVCo pre-certified. And to further support developer needs, the solution platform will be pre-assembled and production grade tested.
“The POS reader solution from NXP clearly shows their knowledge and commitment to the point of sale market, which is a segment that requires a high level of security expertise aligned to industry certifications and standards,” said George Jiang, CTO and VP at ID TECH. “By putting together the hardware, software and certifications in such a convenient platform, NXP has significantly increased our confidence in their technology which allows us more time for innovation and quicker time to market.”
As a result of this tightly coupled integration, the solution simplifies the certification and development process for customers by integrating PCI and EMVCo specifications and as a result, can help save them up to hundreds of thousands of dollars in development and certification costs, while taking months off of their time to market and reduces their risk associated with failing certification.