Intel is planning to bring Near fields Communication (NFC) technology to its smartphone chips.
The company has signed a deal with Inside Secure, which will allow it to include the technology - used for mobile payments among other things, to its smartphone chips.
NFC technology allows users to make payments using credit details stored in their smartphones by waving it in front of a NFC compatible cash register.
Intel is planning to into the smartphone and tablet chip market so having NFC capable chips could give it a competitive edge over rivals such as ARM, which leads the mobile chip market. The NFC market is expected to be worth billions of dollars in the coming years.
Under the newly forged deal, Intel will be granted access to software, hardware and firmware belonging to Inside Secure and access to its existing NFC offerings, as reported by Information Age.
"NFC is gaining traction in many markets as one of the most convenient ways to use consumer electronic devices for payments and retail commerce transactions, for access to facilities and information, and a host of other applications," said Aicha Evans, general manager of Intel's Mobile Wireless Group.