Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Philips Smart Chips to be Used in Wireless Payment Technology
May 29, 2003
 Printable format
 Email this Article
 Search

Dutch electronics conglomerate Philips and payment systems provider Visa International and said on Wednesday they would jointly develop payment systems with contactless chip technology.

"Both organizations have recognized the enormous demand for non-traditional payments via connected consumer devices such as PCs, mobile phones, gaming, and other hand-held devices," the companies said in a joint statement.

Philips, already a chip supplier to Visa, is said to be the world's number 10 chip maker and one of the leading producers of identification and smart card chips. Visa has U.S. $2.4 trillion in annual card sales volume and its credit and debit cards are accepted in more than 150 countries. Visa and Philips said they wanted contactless payment transactions to become possible anywhere, anytime and through any device.

"This agreement includes exploring the business requirements for secure payments utilizing contactless chip technology," said the companies, adding they would look for hardware manufacturers and content providers.

No financial details were disclosed. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Dec 22, 2014: Whirlpool headquarters improvements start a new phase

Dec 22, 2014: DOE's Building Technologies Office releases Roadmap for Emerging HVAC Technologies

Dec 22, 2014: Variable-speed circulation pump enables new Miele lab washers

Dec 22, 2014: The latest retail data breach: Staples

Dec 22, 2014: Consumer Spending Index is at its highest point of the year

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: Appliance Magazine Market Insight Annual Subscriptions
November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows