Mobeewave Collaborates with NXP to Bring In-Person Money Collection to OEMs Worldwide

Mobeewave and NXP to offer mobile device manufacturers the technology to accept money in person via a contactless transaction

MONTREAL, July 12, 2016 /CNW/ -- Mobeewave today announced it will collaborate with NXP® Semiconductors to offer original equipment manufacturers (OEMs) the capability to collect money from a contactless card or mobile wallet using a phone. Combining NXP's expertise in high-performance mixed-signal electronics with the Canadian FinTech company's innovative mobile payment solution, Mobeewave will provide a key differentiator technology for manufacturers of next-generation mobile devices.

Mobeewave's patented technology enables individuals to conveniently and securely accept money in person using a phone's NFC capability. This innovative mobile solution ensures sensitive information related to a transaction is encrypted in a device's hardware and software security.

In the constantly evolving smartphone market, OEMs no longer simply require silicon to compete, they need solutions. With NXP, Mobeewave will address this need by providing a key differentiator solution for OEMs: the ability to enable their users to collect money in person using a mobile device. This solution will become a standard feature of smartphones in the future as mobile devices continue to play a greater role in users' daily lives.

"Allowing payment transactions between two mobile devices over NFC technology requires a highly secure setup. As a one-stop-shop for integrated NFC and embedded Secure Element solutions, NXP provides high level of data protection and encryption to manufacturers and end users alike," said Charles Dachs, senior director of mobile transactions at NXP. "Enabling this level of convenience and security for in-person money transfers will help grow the use of tap-and-pay in China and beyond."

"This global collaboration with NXP Semiconductors represents a tremendous opportunity for Mobeewave," said Benjamin du Haÿs, CEO and co-founder of Mobeewave. "NXP's expertise will enable us to provide a truly innovative solution to original equipment manufacturers around the world."

About Mobeewave

An award-winning company, Mobeewave brings balance to the FinTech world, empowering people to accept money in person using their phones.

Based in Montreal, Mobeewave is challenging every aspect of the current mobile payment paradigm. With the Mobeewave solution, the company has created a simple, secure service to allow anyone to accept money from a contactless card or mobile wallet in a quick, easy and convenient manner.

Mobeewave was selected as a finalist in the Payment and FinTech category of the eighth annual 2016 SXSW Accelerator Competition.

For more information about Mobeewave, please visit: www.mobeewave.com

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SOURCE Mobeewave

Mallory Snitker, 847-415-9300, [email protected], http://www.mobeewave.com