NFC Times Exclusive Insight – Chip maker STMicroelectronics has been gearing up to make a play for the payments wearables market, an initiative punctuated by its announcement last week that it is working with Germany-based Giesecke & Devrient and payments wearables technology start-up FitPay to streamline provisioning of card credentials on its embedded chips.
The collaboration follows similar moves by ST rival NXP Semiconductors, which began offering to do key management for its embedded secure chips for smartphone and later wearables makers more than two years ago. NXP also has been lining up partnerships to help wearables makers enable credit and debit cards to be provisioned to their devices.
Both ST and NXP or their technology partners have deals with major payments networks to load tokens onto their embedded chips, the same type of tokens as are used for NFC smartphone applications.