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NXP, Xiaomi Announce Mobile Payment Partnership

Collaborate to increase efficiency of public transit systems with secure mobile payment technology.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

NXP Semiconductors N.V. and Xiaomi announced a new milestone for mobile payments in public transit systems. As a key part of this collaboration, Xiaomi introduced its next-generation Mi 5 equipped with NXP’s Secure Element and NFC solution, which will help accelerate the adoption of mobile payments in China.
 
The newly launched Mi5 models will allow customers to use tap-to-pay for travelling, seamlessly enter and exit public transport systems without using a ticket or travel card, and enable simple balance checking all while ensuring payment security. The new payment function is already available in Shanghai and Shenzhen, and NXP and Xiaomi will join efforts to promote roll out of the new application in more cities.
 
It is reported that there are currently 400 million transit cards in circulation in China, and many cardholders are expected to transition to more convenient and secure payment solutions, such as mobile

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