This article was originally published by RFID Update.
January 17, 2005—In addition to its joint release with Impinj (see story above), Texas Instruments also announced today that it has been chosen by MasterCard to provide the high-security RFID chips needed for the credit card giant’s PayPass initiative. TI will submit its product to MasterCard for certification, then begin production in the third or fourth quarter of this year. The RFID chip is based on the ISO/IEC 14443 standard, which provides for strong and internationally recognized cryptography algorithms.
PayPass is a MasterCard initiative to offer card holders a contactless payment mechanism for low-ticket items like fast food.
Read the press release on Yahoo! Finance
