NXP Semiconductors is in the Sweet Spot of IoT, Cyber Security, Mobile Payments

Rick Clemmer, CEO of NXP Seminconductor tells TheStreet’s Jill Malandrino a significant growth driver has been the deployment of mobile payments for dual interface credit cards in China where the company has seen a significant ramp up associated with it and also the deployment of the electronic wallet, or the ability to use your mobile phone for payments. The electronic wallet allows for the ease of convenience, as well as the security of having an absolute safe environment. Clemmer expects the mobile payment environment to continue to grow, and according to reports at least half of smartphones in 2015 will have the ability for it. The company is growing 20% year-over-year and China is one of the significant factors lending to that growth.

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