SanDisk, Philips Team Up to Secure Contactless Payments
The companies will embed Philips' SmartMX chip into SanDisk's TrustedFlash cards for protected Near Field Communications implementations.Joining forces to build stronger security capabilities for ticketing and mobile payment applications, SanDisk and Philips announced on May 3 that the companies will embed Philips SmartMX chip into SanDisks TrustedFlash cards for protected NFC implementations. Widely utilized by a growing amount of mobile phone applications, Near Field Communications is a short-range wireless technology that allows customers to allow their phones to become "contactless" transaction or payment methods. This process occurs by customers waving their phones near or across a contactless reader found at mass transit turnstiles for bus and train tickets, drive-through windows, or checkout counters for people paying for gas or buying a cup of coffee.
By combining SanDisk technology with Philips SmartMX chip set pre-loaded and post-issuance model support, handset manufacturers, mobile operators, banks and transit authorities can ensure a greater degree of security exists via NFC when contactless transitions occur, said officials of Sunnyvale, Calif.-based SanDisk.