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Identive and NXP provide NFC payment tags to Yeldi SoftcomOct 17, 2012 (Datamonitor via COMTEX) -- Identive Group, Inc, a provider of products and services for the identification, security and RFID industries, and NXP Semiconductors NV, a provider of mixed signal and standard product solutions, are providing near field communication, or NFC, payment tags to Yeldi Softcom Pvt Ltd to support the launch of its ara eTap cashless payment application in India. The NFC payment tags are affixed to the back of a mobile phone to enable cashless tap and pay transactions. With targeted deployment of 300,000 mobile phones and millions of NFC tags, Yeldi Softcom aims to speed the transition from cumbersome, cash-based transactions to convenient mobile payments for Indian consumers. ara eTap customers can use the NFC payment tag to load cash onto their phones from their personal bank accounts or from a special escrow account set up with Yeldi Softcom. In addition to paying for retail items, tag holders can use the application to pay utility bills, recharge mobiles or book movie and travel tickets, and also can earn reward points on every usage. Yeldi Softcom expects to launch ara eTap in the coming months and is currently signing up merchants across India to distribute the NFC payment tags and support the cashless payment application. To address Yeldi Softcom's requirements for the ara eTap program, Identive developed a unique NFC payment tag based on its patent-pending tom (tag on metal) smart inlay technology, which shields the tag's radio frequency signal from the metal in the mobile phone to allow a connection between the tag and phone. The tag is manufactured using an abrasion-resistant surface and printing process that offers unsurpassed protection and longevity when deployed on mobile phones in the field. For the chip technology within the tag, Identive worked closely with its longstanding tag IC provider NXP Semiconductors, the co-inventor of NFC. "Yeldi's new ara eTap is a major step forward for micro cashless payment in India and beyond. NXP, the leader in the global identification market, provides Identive and Yeldi with a complete payment solution based on our secure MIFARE DESFire platform and award winning PN65 mobile transaction IC. The MIFARE DESFire ICs for Identive's Yeldi project are NFC tag type 4 compliant and already successfully used in the New Delhi, Bengaluru and Mumbai transport ticketing schemes," said Martin Gruber, general manager, MIFARE product line, NXP Semiconductors. http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon |