NXP Semiconductors & Apple
NXP Semiconductors supplies the NFC (near-field communication) controller chips used in every iPhone to enable Apple Pay, Apple Wallet, and tap-to-pay functionality. NXP's NFC chips handle the secure wireless communication between iPhone and payment terminals, transit readers, and digital key readers at distances of up to 4 centimeters.
Why it matters: Apple Pay, Apple Wallet, and the expanding suite of tap-to-pay use cases depend on NXP's NFC controller operating seamlessly with Apple's Secure Enclave. Apple has given NXP's NFC chip exclusive access to the Secure Enclave in iPhone, which was a contentious regulatory issue in Europe and ultimately required Apple to open NFC access to third-party payment apps in the EU under the Digital Markets Act.