Toshiba develops dual interface IC module for Visa payWave

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Toshiba Corp on Monday announced that it has developed a dual interface (contact & contactless) IC module for payment transactions, including Visa payWave the contactless card payment system that Visa Inc will bring to Japan in spring 2013. Toshiba anticipates sales of 2 million units in Japan and overseas in 2013, for integration into cards from major payment card issuers.

There is growing demand for contactless payment systems that allow customers to pay for small transactions simply by waving a card or smartphone in front of a terminal. Visa developed Visa payWave to meet this need, and it has proved popular and successful in the United States, Europe and Asia, as it offers fast, easy payment in convenience stores, gas stations and other merchants.

Toshiba has considerable expertise in wireless near field communication (NFC), including development of a similar IC module for MasterCard PayPass cards, and has been selected as the initial supplier of dual interface IC modules for Visa payWave by Visa. The company will provide the new IC module, the latest in its FSΣ21 series, to the printing companies that produce the cards. This latest module processes transactions 30% faster than Toshiba’s earlier version and supports both contact and contactless transactions by credit, debit and prepaid cards. Like the Visa payWave system, the module is compatible with the ISO/IEC14443 and NFC standards for contactless communications at close proximity and can be integrated into cards from other companies.