STMicroelectronics Partners with YouTransactor in Mobile Chips

STMicroelectronics (NYSE:STM), a semiconductor multinational company announced that it has partnered with mobile payments firm, YouTransactor. Together, the companies are developing secure, lightweight chips designed for mobile payment point of sales systems.

As quoted in the press release:

Combining YouTransactor’s market knowledge and intellectual property of security and point-of-sale payment terminals and applications, with ST’s chip-design skills and intellectual property including cyber-protection and sophisticated display-graphics control, the new chip is the first PCI secure SoC for mobile payment terminals to be based on a general-purpose microcontroller for robust performance and low power at a cost-effective price.

“YouTransactor aims to make secure payment technologies easily accessible to merchant service providers to create a seamless purchasing experience between consumers and merchants of all sizes,” said Jean-Pierre Gressin, Chief Sales & Marketing Officer, YouTransactor. “The new controller, developed with ST, delivers a massive boost to our mission and the timing is perfect, as retailers’ selling models are evolving quickly and in-store and online customers increasingly expect mobile card-payment facilities everywhere.”

Christophe Mani, Ecosystem Security Marketing Manager, STMicroelectronics, added, “Leveraging our proven STM32 microcontroller platform has enabled us to combine affordability with low power consumption supporting the development of new, lightweight devices that comply fully with payment industry standards including EMVCo and PCI PIN Transaction Security requirements.”

Click here to read the full press release.