RegardingID Archive | Renesas, On Track introduce microcontroller-based contactless payment solution for banks

Monday, October 13, 2008

Renesas Technology Corp., a Tokyo semiconductor system provider and New Jersey-based On Track Innovations, specializing in contactless microprocessor-based solutions, have developed a secure contactless microcontroller solution that will help credit card manufacturers provide a cost-effective system for U.S. banks.

The new secure payment solution has been certified by MasterCard PayPass and Visa and is available to U.S. banks and banks around the world which issue industry standard contactless cards. The solution was primarily developed to support the large volume orders expected in the U.S. contactless payments market.

Renesas supplies the contactless microcontroller based on its AE-series smart card controller technology and OTI provides the operating system and application and the contactless card and inlay technology. The combination of Renesas’ secured contactless AE41R microcontroller and OTI’s Hercules operating system bundled in OTI’s contactless products and technology will enable the development of a solution that meets the stringent security requirements of the payments industry while also supporting the speed and convenience that is essential for contactless transactions.

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Renesas, On Track introduce microcontroller-based contactless payment solution for banks