Xiaomi, NXP Semiconductors and Mastercard have forged a partnership to accelerate contactless payments in Russia launching NXP’s mobile wallet solution in entire Europe.
The European-wide roll out of NXP’s mobile wallet solution embarks the first phase of bringing more convenient and secure contactless experiences in Russia.
Dubbed mWallet 2GO, the new wallet comprises a mWallet 2GO wallet software developer kit (SDK) and a mWallet 2GO wallet server.
It is integrated with Mastercard Digital Enablement Service (MDES) and similar tokenisation platforms for providing additional security to mobile payments.
NXP EVP and GM of connectivity & security Rafael Sotomayor said: “NXP’s leading hardware technology, software, and ecosystem integration bring convenient and secure contactless payments to Xiaomi and other mobile devices.”
The wallet powers mobile payments for Xiaomi’s Mi Smart Band 4 NFC wearable devices, and addresses the need of OEM for secure and scalable wallet implementations.
It also caters to user demands by digitising bank cards, allowing NFC transactions at the point of sale (POS) machines using a mobile.
In Xiaomi’s fitness bands, the users can add their bank cards in the Mi Fit app and make payments using Mi Pay.
Xiaomi GM of international product and technology Quanxin Wang said: “Xiaomi and NXP have cooperated in the promotion of innovative mobile payments in China since 2012.
“Extending our collaboration into Europe reflects the increasing focus on mobile lifestyles by people around the globe.”