China will be next major NFC payments market

Chip maker NXP will focus on the “significant” Chinese market for mobile wallets, the firm’s CEO has said, as the company revealed a 40% increase in sales for its emerging ID business in a fourth quarter earnings call. Rick Clemmer said the company would be more focused on China than other regions of the world, adding that “the opportunity in China will be significant and will represent a very significant growth picture”.