The Smart Payment Association (SPA) announced at 4th April that they have signed a Memorandum of Understanding for cooperation with NXP® Semiconductors. NXP Semiconductors becomes a Market Monitoring Advisory Council Member of SPA, the trade body of the smart payment technology providers.
The SPA is engaged in extensive market monitoring activities, using the data sets it collects to generate independently verified market statistics and reports; data that is provided as a free benefit to SPA members.
In an important step, the SPA has responded to wider audience demands for access to its proprietary data with the launch of two new Market Monitoring Advisory Councils. Making it possible for non-SPA member organizations, operating in the wider payment ecosystem, to participate in the payment market monitoring activities of the SPA and access the most up-to-date marketplace data available.
The global payment value chain is evolving rapidly, with existing and emerging organizations addressing specialist verticals and payment applications. The SPA’s Advisory Councils make it possible for these companies to participate and cooperate in discrete areas of activity or interest, without having to commit to the extended range of initiatives and specializations undertaken by our full members explains Sylvie Gibert, President, SPA.
“NXP is delighted to join the SPA Advisory Council. As the global payment ecosystem evolves and adapts in the face of unprecedented market changes, the need for sound market data and forecasts has never been greater. NXP recognizes SPA’s market reach and therefore the strength of its collated data and reports. We look forward to joining SPA,” said Philippe Dubois, General Manager, Secure Payment at NXP
Open to EMV technology vendors supplying cards and/or modules, Advisory Members joining the SPA Monitoring Advisory Council participate in the SPA’s Monitoring Working Group, contribute to its market monitoring and forecasting processes, and access quarterly global market monitoring reporting data as well as bi-annual market estimation reports. This includes granular data sets by geographic regions, technology (contactless, dual interface, DDA and non-DDA) and application (payment smart cards, ID/social cards with payment application chip, transport cards with payment application chip).
Open to organizations operating within the wider payment ecosystem, Advisory Members joining the SPA Forecasting Advisory Council will be able to engage with the SPA Working Group responsible for forecasting and provide input into the market forecast process. Advisory Members will also gain access to select quarterly global market monitoring report data, in addition to granular bi-annual data sets that form the SPA’s global market estimation reports.
The Market Monitoring Advisory Councils are the first to be launched under an innovative Advisory Council Program that has been initiated by the SPA in response to growing demand from today’s rapidly expanding payment community.
Organizations looking to apply for SPA Market Monitoring Advisory Council Member status can find more information here.