NXP cuts card transaction times, adds fingerprints to cards

PARTNER NEWS: NXP is to unveil a new fingerprint-on-card solution at Money20/20 that combines a dual interface card with an integrated fingerprint sensor. The chip maker will also demonstrate a new high-performance platform that makes it possible to achieve M/Chip transactions speeds of under 200ms, “surpassing the industry requirement of 300ms.”

NXPThe fingerprint-on-card solution “provides a secure and dramatically more convenient way for consumers to make payments,” NXP’s Rafael Sotomayor says. “The convenience provided by mobile payment in today’s NFC-based mobile wallets can now be replicated with cards. It is also ideal for use in other form factors and applications such as electronic passports.”

Further details are in the press release below:

NXP unveils breakthrough innovations for payment cards

New fingerprint-on-card solution and world benchmark on payment card transaction speeds, <200 ms

LAS VEGAS, Oct. 19, 2017 — NXP Semiconductors N.V. (NASDAQ:NXPI) today debuted two significant technology breakthroughs at the largest fintech innovation event, Money 20/20, October 22-25, 2017, in Las Vegas. The company will showcase its new contactless fingerprint-on-card solution while also demonstrating a new world benchmark for payment card transactions speeds.

Fingerprint sensors on payment cards

The fingerprint-on-card solution gives payment network operators and banks a secure, convenient and fast payment card option to consumers. Coupling dual interface cards with an integrated fingerprint sensor enables faster transactions without the need for end-users to enter a PIN number.

“The result provides a secure and dramatically more convenient way for consumers to make payments. The convenience provided by mobile payment in today’s NFC-based mobile wallets can now be replicated with cards. It is also ideal for use in other form factors and applications such as electronic passports,” said Rafael Sotomayor, senior vice president and general manager of secure transactions and identification business. “The breakthrough reinforces NXP’s commitment to the payment and secure identification space by helping our customers deliver next-generation applications and solutions to the market.”

To ensure a lower barrier of entry for card makers, the company’s secure fingerprint authentication solution on cards does not require a battery and easily fits into standard card maker equipment as part of the broader payment ecosystem. Cards with fingerprint authentication are fully compliant with existing EMVCo point-of-sales (POS) systems.

New benchmark for blazing transaction speeds

Demonstrating seamless, fast, and smart card transaction experiences, the NXP high-performance platform makes it possible to achieve M/Chip transactions speeds of <200 ms, surpassing the industry requirement of 300 ms.

“This increased level of performance offers flexibility to add new features or higher crypto countermeasures and still meet current industry transaction requirement,” said Sotomayor. “The requirement for faster payment transaction will continue, and NXP is committed to providing the performance to meet these needs and make contactless transactions faster and flawless.”

NXP demonstrations at Money 20/20 Las Vegas 2017

NXP will demonstrate these technology breakthroughs at its exclusive reception on October 24, 2017, in The Venetian. To RSVP for the event and experience NXP’s cutting-edge technologies, please contact pr@nxp.com.

About NXP Semiconductors

NXP Semiconductors N.V. (NASDAQ: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 vehicle, end-to-end security & privacy, and smart connected solutions markets. Built on more than 60 years of combined experience and expertise, the company has 31,000 employees in more than 33 countries and posted revenue of $9.5 billion in 2016. Find out more at www.nxp.com

  • There will always be those who prefer the form factor of card over mobile or wearable (e.g., watch). This is a great option to have in our arsenal. Low power electronics and better battery life make it possible. Cost is more of a problem for issuers than for users. Those who will pay hundreds of dollars for a mobile will not balk at tens for a card provided that the life is long enough.

    My Coin card (no longer available) is two years old, stores multiple credit card numbers, configured by an app over Bluetooth, and uses both a tap-code or proximity to the mobile for security. I would gladly replace it for a hundred dollars. Of course I would prefer a fingerprint sensor to the tap code.