NXP’s SmartMX IC family is meant to address the needs of banking applications that require more security and flexibility and faster transmission rates.

NXP also announced its newest chip, the P5CD016, which offers backward compatibility with the P5CD012, retaining the existing IC platform while adding a faster CPU.

According to NXP, the payment markets are showing a growing demand for multi-application cards which can be used for EMV compliant contact or contactless payment and other applications such as public transport and event ticketing, e-purses or loyalty programs.

The new SmartMX is also the first smart card controller to feature Secure Fetch technology, which offers protection against complex attack scenarios, including most advanced attacks with light and lasers.