STMicroelectronics Teams with Mobile-Payment Partners to Create Turnkey, Certification-Ready Solution for Wearable Devices
January 04 2017 - 10:03AM
- ST, Giesecke & Devrient (G&D), and FitPay join forces
to overcome traditional barriers to OEMs implementing payment
applications on wearable devices
- Groundbreaking secure solution with Secure Element pre-approved
for use with devices to integrate tokenized payments from
Mastercard or Visa
- Turnkey solution combines all necessary firmware, software, and
hardware, including ST's trusted security chip
Geneva, January 4, 2017 - Mobile payments may go
mainstream on wearable devices like smartwatches by taking
advantage of a new ready-to-use payment solution containing
technology from STMicroelectronics (NYSE: STM), a global
semiconductor leader serving customers across the spectrum of
electronics applications.
ST, G&D, and FitPay have used ST's security chip to jointly
create the first secure hardware and software solution that is
pre-approved for use by device manufacturers with the aim to
develop integrated tokenized payments from Mastercard or Visa. This
effort reduces the well-known barriers to implementing card
payments on mobile devices and enables wearable-device OEMs to
concentrate on product development. The joint solution gives users
the flexibility to load multiple payment cards from various banks
and from different payment networks onto the wearable, making
contactless payments easy, independent of the end-device's
operating system.
A secure operating system (G&D), payment application
management software (FitPay), and hardware components needed to
support a mobile payment application are included and fully
integrated around ST's trusted ST54E security chip (embedded Secure
Element, eSE) that handles cryptographic processing and
tamper-proofing.
ST has leveraged the breadth of its component portfolio to
satisfy all functional requirements for a payment device. Alongside
the ST54E, the reference design contains the STS39230 NFC booster
that supports contactless connection to the payment terminal and
allows a small-size antenna, an LIS2DS12 MEMS accelerometer that
enables gesture-activated payment, Bluetooth® Smart ICs, a USB
battery charger, and an energy-saving microcontroller from ST's
ultra-low-power STM32L4 line.
Michael Orlando, CEO of FitPay, said: "Wearable devices are
transforming the payment experience, and FitPay, ST, and G&D
are making it easier to develop payment-enabled wearables. This
reference design from ST demonstrates a fully integrated payment
solution for manufacturers."
G&D's mobile-payment solutions are commercially proven and
support payments at contactless-enabled merchant locations around
the world. Axel Deininger, Executive Vice President and Head of
G&D's Enterprise Security/OEM division said, "The integration
work we have done together with ST and FitPay to create this
reference design overcomes the critical road blocks to delivering
the freedom of mobile payments for consumers worldwide."
"Our vision is to enable secure payments to a generation of new
devices, giving consumers around the world new and innovative ways
to pay," said Kiki Del Valle, Senior Vice President, Commerce for
Every Device at Mastercard. "Mastercard created a standard for
expanding secure contactless and embedded payment options globally,
and STMicroelectronics and its partners have created an intelligent
and powerful solution to mobile-payment challenges - that leverages
our tokenization service - to deliver secure and trusted
payments-enabled devices."
"As the market for payment-enabled wearables grows,
manufacturers need easy ways to bring secure transactions and
connectivity to their devices," said Avin Arumugam, Senior Vice
President, Internet of Things (IoT), Visa Inc. "The solution ST and
its partners are offering is a critical step in bringing
contactless Visa payments to a whole new generation of IoT
devices."
Laurent Degauque, Marketing Director, Secure Microcontroller
Division, STMicroelectronics, said, "The market has been waiting
for a turnkey reference design that greatly simplifies the way
device OEMs interact with the payment ecosystem and this effort
fits the bill. It provides everything needed for wearables to
become the devices that will make mobile payments ubiquitous,
simple, safe, and secure."
The ST54E is available now. Contact ST Sales for pricing.
About STMicroelectronics
ST is a global semiconductor leader delivering intelligent and
energy-efficient products and solutions that power the electronics
at the heart of everyday life. ST's products are found everywhere
today, and together with our customers, we are enabling smarter
driving and smarter factories, cities and homes, along with the
next generation of mobile and Internet of Things devices.
By getting more from technology to get more from life, ST stands
for life.augmented.
In 2015, the Company's net revenues were $6.90 billion, serving
more than 100,000 customers worldwide. Further information can be
found at www.st.com.
For Press Information Contact:
STMicroelectronics Michael Markowitz Director of Technical Media
Relations +1 781 591 0354
michael.markowitz@st.com
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