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ID Solution Helps to Transform India's Rural CommunitiesTechnology From NXP and Glodyne Brings Banking and Social Welfare Services to Many Citizens for the First Time (November 16, 2011)
EINDHOVEN, NETHERLANDS -- (Marketwire) -- 11/16/11 -- NXP Semiconductors N.V. (NASDAQ: NXPI) is working with Glodyne Technoserve, the technology service provider of the Indian State Government of Bihar, to provide citizens living in rural communities with access to banking and social welfare facilities for the first time. Ultimately, residents of Bihar can use the SmartMX-based e-Shakti card as their identity card, employment card, and bank card.
The e-Shakti transformation project aims to improve the purchasing power of Bihar's large rural population, to stimulate the rural economy and to further develop the Bihar region. Using an end-to-end solution based on cutting edge technologies such as NFC, government officials can register participants as they arrive at work and pay wages directly into their newly created bank accounts -- bringing banking to the unbanked.
Using secure handheld terminals, bank clerks can quickly set up virtual banks in even the most rural areas, providing access to full banking services and eliminating the cost and effort required to set up physical branches. The terminals are equipped with NXP's NFC technology, integrated biometrics, and GPRS and GPS technologies to connect directly to the bank's central server. The NFC reader built into the terminals authenticates the user via their contactless SmartMX-based card while biometric data stored on the chip provides an additional level of security.
Steve Owen, vice president, global sales Identification, NXP Semiconductors, said, "India's e-Shakti scheme is an example of the added-value NXP's advanced multi-application ID solutions can bring to millions of people. Our ID technology offers a secure, robust and convenient way for the residents of rural Bihar to identify themselves. In doing so, they gain access to a multitude of services accessed on a daily basis by those living in cities." Multiple application schemes are enabled by NXP's advanced SmartMX technology that is specifically designed for running different applications on a single chip, without compromising on convenience, performance or design productivity.
Binod Mishra, Sr Vice President and Project Director at Glodyne Technoserve Limited, commented, "To implement this project, Glodyne has partnered with leading technology providers who deliver high quality, efficient and best-in-class solutions. NXP has been our preferred partner for the e-Shakti card due to its superior identification technology. Basing card and banking terminals on contactless technology offers numerous benefits. In addition to accelerating transaction speeds, contactless-based systems also require a reduced level of capital expenditure compared to equivalent magnetic-based or contact chip systems. We typically find that contactless systems have longer lifetimes and are much cheaper to maintain, which is essential for states such as Bihar with many rural villages."
In addition to the e-Shakti project, eGovernance is high on the agenda of the Indian government. NXP is currently involved in several of the country's eGovernment ID projects, including the National ID card and electronic driving license schemes. The e-Shakti scheme complies with the National Rural Employment Guarantee Scheme (NREGS), which guarantees 100 days of paid work a year to unskilled manual workers.
Ajesh Kapoor, Director, NXP Semiconductors, concluded, "With approximately 100 million citizens, Bihar is the third most populated state in India, with 85 per cent of people living in rural areas. The e-Shakti scheme is a groundbreaking project that ties in closely to the Indian Central Government's desire to promote financial inclusion for the entire population of India."
At CARTES & IDentification 2011 (Paris, Nov 15-17, booth 4J 035, Hall 4), NXP will demonstrate several multi-application solutions that enhance quality of life at home, at work, in transit and at leisure.
Notes to editors
Currently the industry leader in the overall ID market as well as in eGovernment technology, NXP's contactless SmartMX security chip has been proven in more than 150 eGovernment projects around the world, including applications such as health cards, electronic driving licenses and national ID cards. Within ePassports alone, NXP-based solutions are used in 80 out of the 96 ePassport schemes worldwide.
About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ: NXPI) provides High Performance Mixed Signal and Standard Product solutions that leverage its leading RF, Analog, Power Management, Interface, Security and Digital Processing expertise. These innovations are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. A global semiconductor company with operations in more than 25 countries, NXP posted revenue of $4.4 billion in 2010. For more information visit www.nxp.com.
This document includes forward-looking statements which include statements regarding NXP's business strategy, financial condition, results of operations, and market data, as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include the following: market demand and semiconductor industry conditions; the ability to successfully introduce new technologies and products; the end-market demand for the goods into which NXP's products are incorporated; the ability to generate sufficient cash, raise sufficient capital or refinance corporate debt at or before maturity; the ability to meet the combination of corporate debt service, research and development and capital investment requirements; the ability to accurately estimate demand and match manufacturing production capacity accordingly or obtain supplies from third-party producers; the access to production capacity from third-party outsourcing partners; any events that might affect third-party business partners or NXP's relationship with them; the ability to secure adequate and timely supply of equipment and materials from suppliers; the ability to avoid operational problems and product defects and, if such issues were to arise, to correct them quickly; the ability to form strategic partnerships and joint ventures and to successfully cooperate with alliance partners; the ability to win competitive bid selection processes to develop products for use in customers' equipment and products; the ability to successfully establish a brand identity; the ability to successfully hire and retain key management and senior product architects; and, the ability to maintain good relationships with our suppliers. In addition, this document contains information concerning the semiconductor industry and NXP's business segments generally, which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the semiconductor industry, NXP's market segments and product areas may develop. NXP has based these assumptions on information currently available, if any one or more of these assumptions turn out to be incorrect, actual market results may differ from those predicted. While NXP does not know what impact any such differences may have on its business, if there are such differences, its future results of operations and its financial condition could be materially adversely affected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after we distribute this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our SEC filings are available from on our Investor Relations website, www.nxp.com/investor or from the SEC website, www.sec.gov.
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