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Technology Stocks : NXP Semiconductor

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From: JakeStraw	12/19/2016 12:11:53 PM
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NXP and Huawei Collaborate to Deliver Mobile Transit Capabilities in More Smartphones in China finance.yahoo.com “Security and convenience are fundamental principles for NXP that guide how we operate as a company, giving our customers greater opportunities to deliver smart and connected solutions into the market,” said Rafael Sotomayor, senior vice president and general manager of the mobile business line at NXP. “Delivering mobile transit services to Shenzhen, Guangzhou, and Beijing on top of Shanghai is a significant milestone. It builds on the two companies’ history of bringing innovation to our customers and extends NXP’s position as a leading provider of mobile transit solutions.” Together, Huawei and NXP have the expertise, solutions and technologies to deliver mobile transit experiences and meet the burgeoning growth of contactless payment in China. According to an ABI Research report, in only a year from now, more than 80 percent of all POS terminals would will allow contactless payment. Additionally tap-and-go functionality is now present in more than 350 smartphone models worldwide with a majority of them available in China. As China continues to urbanize over the next decade, the market for smart payment technology in urban transit systems is expected to rapidly increase.

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