mWallet 2GO

2018: Start of service

In June, 2018 the poluprovodnikovyy producer NXP Semiconductors and payment systems MasterCard also Visa provided service under the name mWallet 2GO which will allocate billions of devices Internet of Things with opportunities of payment of goods and services.

The hardware-software solution includes the NFC module NXP, a middleware for this communication, the JavaCard operating system, various safe elements, additions to them and service of management of them, set for development of digital purses and software.

Devices will pay for themselves: Visa and MasterCard created a purse for billions of IoT-devices

Using the platform of tokenization of MasterCard   (Mastercard Digital Enablement Service, MDES) the unique token used at contactless payment by the smartphone is created.

Visa in return provided  a security technology  of Token Service which provides data protection of clients and information on their transactions.

The mobile purse is held for use in wearable electronics, mobile devices and the IoT-equipment. mWallet 2GO is implemented "on a turn-key basis" (vendors receive completely certified and checked solution). Producers of gadgets and IoT-products will be able to change the name of service and to offer it under own brand.

As the vice president of NXP and the general manager of the direction of transactions in the built-in equipment Charles Dachs explained to the EE Times edition, the elements of security and NFC communication offered by the company support work in the mode, very economic in terms of energy consumption. In particular, it is about the compact wearable gadgets equipped with small rechargeable batteries.

Dax also noted that the service of management of elements of security found for NXP application in a payment service of Garmin Pay.

mWallet 2GO will begin distribution with the smartwatch of the German company Montblanc.^[1] 

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