Turkish payment solutions provider Cardtek and Dutch semiconductor manufacturer NXP Semiconductor have partnered to launch Digital Enablement Platform, a digital payment solution for wearables.
The new solution will allow users to make safer and easier transaction, including on-boarding payment cards, transit tickets and access cards.
Under the partnership, Cardtek will integrate NXP PN66T and P60 wearable chips with its devices, supporting issuers, wearable OEMs and other service providers to enable payment and non-payment services in wearables.
Cardtek executive vice president of sales and marketing for North America Emilian Elefteratos said: "Wearables bring many advantages to the payments industry, one of the key benefits is that issuers or service providers will have full ownership of their own wallets without being dependent on third-party providers.
"Built-in NFC wearables enable consumers to leave their wallet at home and make transactions simpler and safer than ever before. Cardtek is pleased to play a leading role in helping drive the rapidly emerging wearable payments market."
NXP vice president of transactions Charles Dach said: "The integration of contactless secure applications in wearable devices can be a significant business opportunity for hardware and service providers.
"With NXP's PN66T loader service feature, implementation of new services on wearables is simple and secure – opening the door for more convenience in being able to use your wearable for identification, banking, ticketing, access and more."