The license agreement supports the industry’s need for extension of contactless applications to new form factors and is expected to strengthen Renesas’ position in the secure MCU markets for high-end mobile and dual-interface banking applications. Renesas plans to provide a full range of security products with MIFARE to meet the requirements of mobile and contactless payment industries world-wide.

The agreement is set to drive the emergence of new and advanced over-the-air mobile phone services based on NFC, such as electronic ticketing and payment, delivering connected services to consumers while allowing mobile network operators to increase average revenue per user.