STMicroelectronics is a semiconductor company that creates efficient solutions in the field of electronics and it recently works together with payment service developer Fidesmo on the STPay-Boost IC device. The duo infuses a hardware security component to the wearable in order to actively protect contactless transactions -- this is combined with NFC-boost technology that retains reliability through devices that have been constructed with metallic materials. The footprint functions through a single chip and it can be simply incorporated into any compatible wearable.
Fidesmo uses the MasterCard MDES tokenization system to allow consumers to organize any personal information necessary for transaction processes. Fidesmo's CEO Mattias Eld expresses that their collaboration "opens up a new market for us with support for lightweight boosted secure elements, and broadens choices for our customers." Security is proven with the leveraged STPay software and STMicroelectronics' Java-based operating system.
Secure Wearable Payment Systems
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