New Wave of Communication Chips Speed Payment Processing
Nokia continues to pursue the emerging near-field communications technology with an investment in Inside Contactless.
Nokia Growth Partners, the private equity and venture capital arm of Nokia, led a US$38 million round of investments in Inside Contactless, the fabless semiconductor company that makes contactless chip platforms. Nokia did not reveal how much of the investment it contributed.
The French company plans to use the investment to speed up its expansion into international markets and broaden its product portfolio. Its MicroPass technology is already in place in U.S. shops including some McDonald’s and 7-Eleven stores, as well as in Coca-Cola vending machines, New York City and Philadelphia taxi cabs, and major sporting venues including Fenway Park.
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