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Apple Pay Chip Supplier NPX Acquired by Qualcomm

10.0 NEWS -
1AX 99 QUALCOMM ACQUIRES NXP

 

Today Qualcomm announced that it agreed to buy NXP Semiconductors for about $47 billion, including debt, as it seeks to expand the reach of its chips from phones to cars. The deal would make Qualcomm, which supplies chips to Apple and Android smartphones, one of the biggest suppliers to the fast-growing market of chips used by the automotive industry. NXP chips are used in connection with Apple Pay. For more details see Qualcomm's press release.

 

 

On Tuesday during Apple's financial Conference Call, CEO Tim Cook noted during his opening statement that "Apple Pay transactions were up over 500% year on year for the September quarter. In fact, we completed more transactions in the month of September than we did across all of fiscal 2015. And with Apple Pay support now built into Safari, hundreds of thousands of websites are bring Apple Pay to their customers. Our major partners tell us that Apple Pay shows the highest conversion rate of any digital wallet."

 

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