NXP is collaborating with ING Bank to test the NEAR peer-to-peer payment method based on ultrawideband (UWB) technology. In the second half this year, ING customers with an UWB-enabled Samsung Galaxy smartphone will be able to send money to each other by simply pointing their devices to each other. There is no need to share personal details (currently, you need a phone number to send a payment request, for example) or to create a QR code is eliminated. Additionally, NEAR’s maximum range of fifty meters far exceeds that of NFC.
“By using NXP’s Trimension SR100T UWB chips to enable consumers to pay directly through the ING banking app, we’re enabling all the convenience of peer-to-peer payments, while also creating the opportunity to expand to new use cases in the future, such as adding UWB to point of sales to enable a secure, hands-free checkout experience. As the need for convenient peer-to-peer payments continues to grow, our collaboration with ING and Samsung helps to make this innovative payment method suitable for worldwide adoption,” said Rafael Sotomayor, general manager of NXP’s Connectivity & Security business.