NXP and Giesecke & Devrient Launch Contactless Fast Pay Solution
On May, 4, 2009, NXP, the independent semiconductor company founded by Philips, and Giesecke & Devrient (G&D), a leading supplier of payment cards, services, and smart card solutions, announced the introduction of NXP’s new Fast Pay contactless security chip and a new line of G&D contactless payment devices based on this IC. Fast Pay-based devices have been specifically designed to provide consumers in the
The new chip will be widely used for contactless payment applications, such as in G&D’s Visa payWave and MasterCard PayPass cards. The EMVCo approved chip offers best in class contactless performance and its Data Encryption Standard (DES) hardware co-processor provides strong security and fast transaction times, all packaged within a small footprint.
“NXP’s Fast Pay chip delivers a new industry benchmark in security, performance and flexibility for contactless payment devices,” said Brian Russell, G&D’s new Vice President of Payment Card Solutions in the
Fast Pay is ISO 14443 Type A certified and supports the latest MasterCard® and Visa® contactless payment specifications. Its DES hardware co-processor offers substantially higher security than pure software implementations. Fast Pay is supporting multiple form factors, including full CR80/ID-1 cards, fobs and stickers. The chips can be delivered in up to 250µm thick chip-packages, allowing extremely thin designs.