G&D Committed to EMV Migration Initiatives in the U.S.
Dulles, Virginia, September 10, 2012 – Giesecke & Devrient (G&D), an international leader in mobile security solutions, is supporting the U.S. banking industry with the migration from magnetic stripe to EMV technology. G&D’s commitment includes participation in a new industry organization, launching new EMV products for the U.S. market and expanding U.S. production capabilities.
G&D is the first to join the EMV Migration Forum, a new industry collaboration effort to promote interoperability and standards-based implementations initiated by the Smart Card Alliance. As a longstanding member of the Alliance, G&D is supporting the new organization as a principal member and will help industry participants navigate the complexities of the U.S. payment market, using the knowledge it has gained from multiple EMV migrations across the world.
“As the pioneering member of the EMV Migration Forum, we trust that G&D will use their extensive EMV experience to guide other participants and help drive the migration efforts in the U.S.,” said Randy Vanderhoof, executive director of the Smart Card Alliance.
G&D is a global leader in EMV technology and is enhancing its extensive EMV product portfolio with new payment products and applications to better address the specific needs of the U.S. EMV market, including the implications of the Durbin Amendment. G&D is taking a consultative approach to supporting key partners, promoting education and targeted execution as the U.S. migrates to chip-based payment with EMV.
G&D is focused on securing credentials, whether physical or virtual, and supports all form factors from magnetic stripe cards to dual interface EMV cards to Trusted Service Management (TSM) of a virtual wallet for NFC using EMV technology. G&D’s comprehensive and full service offer will help the U.S. market move to the next generation of payment technology and create confidence for a convenient and secure consumer payment experience.
“As a technology innovation leader, G&D is pleased to be able to share our extensive knowledge with our customers and demonstrate a clear commitment to market growth,” commented Michael Kuemmerle, Group Executive Mobile Security at Giesecke & Devrient. “Having an experienced partner will be a key factor in making a smooth transition from traditional payment methods to EMV, NFC and beyond.”
G&D is investing to meet the growing service requirements of its customers by expanding its production facility in Twinsburg, Ohio and plans to add over one hundred jobs in the next few years. This expansion is the second in three years and provides the added capability to manufacture, personalize and fulfill microprocessor smart cards. To support the migration to EMV technology from traditional magnetic stripe cards, G&D offers end-to-end EMV products and services, helping issuers to choose flexible yet quick to market deployment strategies. Bringing these capabilities to the U.S. enhances G&D’s robust manufacturing and personalization capabilities in Canada and Mexico, creating a strong technology footprint across the entire North American region.
G&D will continue to be a technology partner to its customers as market needs evolve, regularly enhancing R&D investments in support of innovation. G&D is committed to secure customer data management, whether magnetic stripe cards, EMV dual interface cards, or NFC wallet management through TSM.
Press Contact North America:
Heather Klein, Director, Marketing Communications
Phone: +1 703 480 2086
About Giesecke & Devrient
Giesecke & Devrient (G&D) is a leading international technology provider headquartered in Munich,
Germany. Founded in 1852, the Group has a workforce of around 10,500 employees and generated sales
exceeding EUR 1.64 billion in fiscal 2011. 58 subsidiaries and joint ventures in 32 countries ensure customer proximity worldwide.
Over 150 countries place their trust in G&D solutions when producing and processing their banknotes. The company primarily supplies central and commercial banks, cash-in-transit companies, and security printers with innovative technologies that render the cash cycle efficient and secure. G&D bank and SIM cards are used all over the world to make payments and telephone calls. As an end-to-end provider of smartcard and mobile security solutions, the Group develops and distributes hardware, software, and services to a client base that includes banks, mobile network operators, transportation companies, business enterprises, and original equipment manufacturers (OEMs). Governments and public authorities turn to G&D for passport, ID card, and border control systems, ensuring reliable identity verification right around the globe. For more information, please visit: http://www.gi-de.com