Dutch semi-conductor maker NXP on Thursday announced turnover up 17% to $5.6bm and profit up 55% to $539m in 2014.

The growing use of smartphones for payment in shops and restaurants saw a growth of 37% over the year to $1bn in the secure connected devices division. This division makes secure chips for the Apple payment system in the iPhone 6 and 6 Plus.

NXP is working with Chinese smartphone makers to provide secure chips for Android manufacturers who are planning to launch smartphones with a pay application.

NXP, which employs 24,000 people, also makes chips for mobile transmitters, passports and entry door cards.