IDEMIA will develop and supply next generation chips for debit and bank cards, to Swiss banks, from 2020 to 2023.
COLOMBES, France -Wednesday, May 2nd 2018 [ AETOS Wire ]
(BUSINESS WIRE)-- IDEMIA, the world leader in Augmented Identity, announced today the extension of the partnership started in 2010 with SIX Payment Services, Switzerland’s leading card processor. SIX Payment Services releases a new chip specification on behalf of the Swiss debit card issuers every four years, followed by the evaluation of two suppliers. IDEMIA was selected both in 2010 to develop and supply EMVI’12 chips from 2012 to 2016, and in 2014 to develop and supply EMVI’16 chips from 2016 to 2019. From 2012 to 2017, IDEMIA delivered 11 million modules within SIX’s EMVI’12 and EMVI’16 projects. The new product generation, called EMVI’20, will be issued from 2020 till 2023 and will be based on the specifications of EMVCo CPA (Common Payment Application), MasterCard PayPass and VCPS (Visa Contactless Payment Specification). This new chip generation will implement a contact interface based on EMVCo CPA (Common Payment Application) and contactless interfaces based on either PayPass on CPA or VCPS on CPA respectively.
EMVI’20 will enable the Swiss banks to offer contactless payments on top of standard debit, credit and e-commerce functionality for MasterCard and Visa brands, enhanced by SIX Payment Services’ functional extensions.
“We are extremely pleased to strengthen and renew our partnership with SIX Payment Services for the 3rd consecutive project with this new EMVI’20 generation,” commented Pierre Barrial, Executive Vice-President for Financial Institutions activities at IDEMIA. “This demonstrates how important the Swiss Market is for our company. This state-of-the-art product will enable banks to propose an enhanced value proposition to their cardholders, including the convenience of contactless payment”.
OT-Morpho is now IDEMIA, the global leader in Augmented Identity for an increasingly digital world, with the ambition to empower citizens and consumers alike to interact, pay, connect, travel and vote in ways that are now possible in a connected environment.
Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, we reinvent the way we think, produce, use and protect this asset, whether for individuals or for objects. We ensure privacy and trust as well as guarantee secure, authenticated and verifiable transactions for international clients from Financial, Telecom, Identity, Public Security and IoT sectors.
OT (Oberthur Technologies) and Safran Identity & Security (Morpho) have joined forces to form IDEMIA. With close to $3 billion in revenues and 14,000 employees around the world, IDEMIA serves clients in 180 countries.
For more information, visit www.idemia.com / Follow @IdemiaGroup on Twitter
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