June 14, 2012 -- MIPS Technologies, Inc. today announced that Nationz Technologies, Inc., a provider of security processors and RF chips in China, licensed MIPS Technologies' MIPS32 M4K processor cores for use in its 2.4G RFID-SIM/ SD mobile payment products, widely used in mobile phones.
Nationz's RFID-SIM/ SD cards have been adopted by major telecom providers in China, with more than one million MIPS-based devices shipped to-date. Nationz is already designing its next MIPS-Based chip for mobile payment applications, including Range Controlled Communications (RCC). RCC is a multi-range controlled communication technology, which goes beyond near-field communications (NFC).
The 2.4G mobile payment solution standard, originally developed by Nationz, applies ultra-high frequency to near-field precision applications. Based on this standard, Nationz' mobile payment solutions consist of an RFID-SIM/ SD card and a card reader that users insert into a phone to replace their existing SIM/ SD card. Although it looks the same as a common SIM/ SD card and has all traditional SIM/ SD features, the RFID-SIM/ SD card also contains a financial-grade security processor and a built-in RF channel. These features allow users to make payments, transfer money between accounts and shop.
The mobile payment market, which includes mobile shopping, money transfers and NFC transactions, is poised for massive growth and is expected to reach $670 billion in 2015, up from $240 billion in 2011, according to a report from Juniper Research. A separate World Payments Report 2011, released by The Royal Bank of Scotland and other partners, predicts mobile payments will overtake traditional plastic card transactions by 2021.
About Nationz Technologies, Inc.
Founded in 2000 as a part of China's Project 909 (national efforts to establish domestic IC design and manufacturing capabilities) and listed on the Growth Enterprises Market (GEM) under the code 300077 in April 2010, Nationz Technologies, Inc. is the leading provider of security processors and RF chips in China. Headquartered in Shenzhen, Nationz has branch companies in Beijing and Shanghai, and subsidiaries in Hong Kong and the U.S.
Go to the MIPS Technologies, Inc. website to find additional information.