EANS-News: Identive Group Inc. Yeldi Group Selects Identive and NXP for Launch
of First Major Mobile NFC Cashless Payment Solution in India
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Marketing
Subtitle: Innovative NFC tags work with consumers mobile phones to enable
cashless payments
SANTA ANA, Calif., ISMANING, Germany and Eindhoven, Netherlands, October 9, 2012
(euro adhoc) - Identive Group, Inc. (NASDAQ: INVE; Frankfurt: INV) and NXP
Semiconductors N.V. (NASDAQ: NXPI) today announced that they are providing
innovative near field communication (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.
"Mobile technology is rapidly being adopted by a broad demographic in India,
which is spurring significant interest in mobile commerce," said Lakshmi Deepa,
chief executive officer of Yeldi Softcom, a subsidiary of the Yeldi Group that
focuses on the development of telecommunications technology. "The NFC payment
tags from Identive and NXP make it possible for us to equip Indian consumers
with the means of making cashless payments and other transactions without the
need for a more expensive smart phone with in-built NFC. The tags can be used
with both new and existing mobile phones, making the ara eTap application
available to the majority of the population. Transactions are secure and the
ability to reload cash to the tag adds to the convenience."
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 a world of 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 reliable, high-performance
connection between the tag and phone. The tag is manufactured using an
abrasion-resistant surface and unique 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 and market
leader 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.
"Identive has made a significant investment in developing innovative NFC
technology to support cashless payment applications such as ara eTap and we are
pleased to support the launch of this ground-breaking program," said Dr. Manfred
Mueller, COO of Identification Products for Identive.
At SmartCards Expo 2012 (NSIC Exhibition Ground, Okhla Industrial Estate, New
Delhi, October 10-12) visitors can learn more about Yeldi's Mobile NFC Cashless
Payment Solution at the NXP booth (#A1) as well as Identive's booth (#C1).
About Identive
Identive Group, Inc. (NASDAQ: INVE; Frankfurt: INV) is focused on building the
world's signature company in Secure ID. The company's products, software,
systems and services address the markets for identity management, physical and
logical access control, cashless payment, NFC solutions and a host of
RFID-enabled applications for customers in the government, enterprise, consumer,
education and healthcare sectors. Identive's mission is to build a lasting
business of scale and technology based on a combination of strong
technology-driven organic growth and disciplined acquisitive expansion. The
company delivers up-to-date information on its activity as well as industry
trends through its industry-leading social media initiatives and educational
resource, AskIdentive.com. For additional information, please visit
www.identive-group.com or follow on Twitter at @IdentiveGroup.
About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ: NXPI) provides High Performance Mixed Signal
and Standard Product solutions that leverage its leading RF, Analog, Power
Management, Interface, Security and Digital Processing Expertise. These
innovations are used in a wide range of automotive, identification, wireless
infrastructure, lighting, industrial, mobile, consumer and computing
applications. A global semiconductor company with operations in more than 25
countries, NXP posted revenue of $4.2 billion in 2011. Additional information
can be found by visiting www.nxp.com.
Note: tom is a registered trademark of Identive Group, Inc. MIFARE and MIFARE
DESFire are trademarks of NXP Semiconductors. All other trademarks are the
property of their respective owners.
Forward-looking Statements
This document includes forward-looking statements which include statements
regarding NXP Semiconductors' business strategy, financial condition, results of
operations, and market data, as well as any other statements which are not
historical facts. By their nature, forward-looking statements are subject to
numerous factors, risks and uncertainties that could cause actual outcomes and
results to be materially different from those projected. These factors, risks
and uncertainties include the following: market demand and semiconductor
industry conditions, our ability to successfully introduce new technologies and
products, the demand for the goods into which our products are incorporated, our
ability to generate sufficient cash, raise sufficient capital or refinance our
debt at or before maturity to meet both our debt service and research and
development and capital investment requirements, our ability to accurately
estimate demand and match our production capacity accordingly or obtain supplies
from third-party producers, our access to production from third-party
outsourcing partners, and any events that might affect their business or our
relationship with them, our ability to secure adequate and timely supply of
equipment and materials from suppliers, our ability to avoid operational
problems and product defects and, if such issues were to arise, to correct them
quickly, our ability to form strategic partnerships and joint ventures and
successfully cooperate with our alliance partners, our ability to win
competitive bid selection processes to develop products for use in our
customers' equipment and products, our ability to successfully establish a brand
identity, our ability to successfully hire and retain key management and senior
product architects; and, our ability to maintain good relationships with our
suppliers. In addition, this document contains information concerning the
semiconductor industry and our business segments generally, which is
forward-looking in nature and is based on a variety of assumptions regarding the
ways in which the semiconductor industry, our market segments and product areas
will develop. We have based these assumptions on information currently
available to us, if any one or more of these assumptions turn out to be
incorrect, actual market results may differ from those predicted. While we do
not know what impact any such differences may have on our business, if there are
such differences, our future results of operations and our financial condition
could be materially adversely affected. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak to results only as of
the date the statements were made. Except for any ongoing obligation to
disclose material information as required by the United States federal
securities laws, we do not have any intention or obligation to publicly update
or revise any forward-looking statements after we distribute this document,
whether to reflect any future events or circumstances or otherwise. For a
discussion of potential risks and uncertainties, please refer to the risk
factors listed in our SEC filings. Copies of our SEC filings are available from
on our Investor Relations website, http://www.nxp.com/investor or from the SEC
website, http://www.sec.gov.
Further inquiry note:
Contacts:
Identive Group
Ms. Darby Dye
+1 949 553-4251
ddye@identive-group.com
Mr. Lennart Streibel
+49 89 9595-5195
lstreibel@identive-group.com
NXP Semiconductors
Mr. Michael Maader
+49 (0)40 5613 3371
michael.maader@nxp.com
end of announcement euro adhoc
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company: Identive Group Inc.
Carnegie Ave., Bldg. B 1900
US-CA 92705 Santa Ana
phone: +1 949 553 4280
FAX: +49 89 9595-5555
mail: investorrelations@identive-group.com
WWW: http://www.identive-group.com
sector: Computing & Information Technology
ISIN: US45170X1063
indexes: NASDAQ
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
Nasdaq: New York, Open Market / Entry Standard: Frankfurt
language: English