This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Identive's Cashless Betalen(TM) Mobile Payment Solution Implemented At NXP Semiconductors

Stock quotes in this article: INV, INVE

SANTA ANA, Calif. and ISMANING, Germany, Dec. 21, 2012 (GLOBE NEWSWIRE) -- Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV), a provider of solutions and services for the identification, security and RFID industries, today announced that its Cashless Betalen™ mobile payment system has been implemented by NXP Semiconductors (Nasdaq:NXPI) at its production facility in Nijmegen, The Netherlands. The system currently allows up to 2,600 NXP employees to make quick, secure micro-payments in the company's cafeteria with a tap of their mobile phones. Since implementation of the system in early December, two of four payment terminals in the café have been designated as 'fast lanes' that accept Cashless Betalen.

Cashless Betalen is a cashless payment application used with the digital wallet offered by Rabobank, one of Holland's leading banks. Identive provides the user interface and account management software platform for the wallet. In addition, a near field communication (NFC) sticker from Identive, based on MIFARE DESFire EV1 chip technology from NXP, enables employees' phones to access and use the Cashless Betalen system.

"We are pleased that Identive is using our MIFARE DESFire EV1 chip in the Cashless Betalen NFC sticker. The MIFARE DESFire EV1 platform used in these stickers is common criteria certified to ensure secure transactions, NFC Forum Tag Type 4 compliant and field proven in many closed-loop micro-payment schemes around the world. This is a win – win cooperation for both companies and illustrates the positive relationship that NXP and Identive have built over the last years," said Martin Gruber, general manager, MIFARE Product Line,NXP Semiconductors.

A short video of Cashless Betalen in action at NXP Nijmegen is available on Identive's website.

Cashless Betalen also features a mobile app based on the iOS, Android and Blackberry and mobile operating systems that allows employees to check account balances, transfer funds and monitor account activity using their smartphones; account information is also available via the Internet. In addition to NXP, more than 100 company canteens, high schools and international schools in The Netherlands have now implemented Cashless Betalen.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs