Samsung, Smartlink, and Ingenico have announced the Contactless Companion Platform (CCP), a contactless payments solution for digital cash.
The solution uses Samsung’s dual interface smart chip technology to enable transactions through virtually any form factor, from smartwatches to key fobs. The overall platform, meanwhile, lets users combine digital money with points programs and vouchers.
In a statement announcing the platform, Samsung Semiconductor Europe’s Jörg Suchy explained that while “[c]urrent contactless payment solutions aren’t considered a serious alternative to cash in many scenarios,” CCP “takes the industry well beyond the many boundaries of what exists today.”
It isn’t yet clear how CCP will work with, or perhaps against, Samsung Pay, one such ‘current contactless payment solution’ that appears to be gaining traction as it reaches new markets around the world. But Samsung, Smartlink, and Ingenico say that watchmakers Montfort and Winwatch have developed devices with CCP embedded in them, suggesting the platform is already getting a foothold in the rapidly transforming payments market.