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Identiv, Inc. (NASDAQ:INVE) today announced that the company has launched Identiv NTAG^® 424 DNA Tags, its new family of labels that leverage NXP^® (NASDAQ:NXPI) NTAG^® 424 DNA chips, strengthening Identiv’s radio-frequency identification (RFID) offerings that provide security for the Internet of Things (IoT). With the new Tamper Detection NTAG 424 DNA Tag (utilizing NXP’s TagTamper chip), Identiv has successfully become the first tag manufacturer to receive certification in the NFC Forum Certification Program.

The NFC Forum has released its NFC Money Transfer Candidate Technical Specification (NMT) for all NFC-enabled devices, including smartphones, readers, and tags. The specification is compatible with existing open-loop and closed-loop NFC-based payments. The NMT operates by holding a smartphone in proximity to a reader or other NFC-enabled device without preselection of a payment app by the user, a task required when making QR code-based payments. In addition, there is no need to open a camera, aim the camera, and scan a QR code.

The major contributing factor for the growth of the market for Wearable Payments Devices can convergence of wearable devices and e-banking, by deploying NFC technology in devices.

NFC Money Transfer Candidate Specification allows for simple and secure NFC-based payment solutions. The NFC Forum, a Massachusetts-based non-profit industry association and advocate of Near Field Communication (NFC) technology has launched an NFC payments solution. The solution, known as the NFC Money Transfer Candidate Specification (NMT) has been designed as an alternative to QR code-based payments that gives payment service providers and consumers the chance to take advantage of simple and secure NFC-based payment systems that already exist worldwide.

For years, Apple Pay and other mobile wallets have offered customers the ability to “tap to pay” at the register. Now, U.S. credit- and debit-card issuers are hopping on the bandwagon. Contactless payments are typically speedier than transactions in which you insert a card into a chip reader. To use a contactless card, you hold it within a few inches of any terminal that accepts near-field communication (NFC) payments—look for a symbol with four vertical curves.