Gemalto First to Achieve Interac Certification for Secure Banking in Canada
Gemalto certified to provide secure smart banking cards for use with Canada’s debit and Automated Banking Machine network
Toronto, Ontario, January 24, 2007–Gemalto, a world leader in digital security, today announced that its personalization center outside of Toronto, Ontario, Canada is the first to achieve smart banking card certification from Interac, Canada’s debit and Automated Banking Machine (ABM) network. Gemalto adds this to existing ISO, MasterCard and Visa certifications, demonstrating its commitment to aid Canadian financial institutions overcome credit and debit card fraud. This will be accomplished by converting an estimated 100 million magnetic stripe payment cards to microprocessor-based smart cards.
Having met all of Interac’s stringent standards for security, reliability and performance, Gemalto can now provide financial institutions with chip-based banking cards for use within Interac’s Shared Services, including Interac Direct Payment (IDP), Canada’s national debit card service, and Shared Cash Dispensing (SCD), for cash withdrawals at ABMs. Interac has set final deadlines for the conversion to smart bank cards. Its Shared Services will be ready to use chip-based banking cards in 2007 and by 2015, magnetic stripe cards will no longer be accepted within the network.
“This certification allows us to work with Interac and its members to ensure that the transition to smart card-based payment cards in Canada is smooth and successful, and cardholders are able to experience the security and privacy that these cards provide,” said Jack Jania, vice president and general manager, financial services, Gemalto North America. “We look forward to our continuing role in helping financial institutions meet Interac deadlines with ease.”
Gemalto securely prepares and personalizes smart banking cards at its state-of-the-art personalization center in Burlington, Canada. This is the only Canadian facility today capable of personalizing a full smart bank card portfolio including Native & Open Platform EMV cards, contactless and dual interface cards. The personalization process includes loading appropriate cardholder data, and then packaging and sending the cards to banks or directly to the cardholders.
About Interac Association
Formed in 1984, Interac Association is a not-for-profit organization composed of 95 members, including banks, trust companies, credit unions, caisses populaires (the equivalent of a credit union), technology and payment related companies. Interac has developed a national network for two shared electronic financial services: Interac Direct Payment, Canada’s national debit card service and Interac Shared Cash Dispensing Service for cash withdrawals at Automated Banking Machines.
Gemalto (Euronext NL 0000400653 GTO) is a leader in digital security with pro forma 2005 annual revenues of €1.7 billion, operations in about 100 countries and 11,000 employees including 1,500 R&D engineers.
In a world where the digital revolution is increasingly transforming our lives, Gemalto’s solutions are designed to make personal digital interactions more convenient, secure and enjoyable. Gemalto provides end-to-end digital security solutions, from the development of software applications through design and production of secure personal devices such as smart cards, SIMs, e-passports, and tokens to the management of deployment services for its customers. More than a billion people worldwide use the company’s products and services for telecommunications, financial services, e-government, identity management, multimedia content, digital rights management, IT security, mass transit and many other applications.
As the use of Gemalto’s software and secure devices increases with the number of people interacting in the digital and wireless world, the company is poised to thrive over the coming years. Gemalto was formed in June 2006 by the combination of Axalto and Gemplus. For more information please visit http://www.gemalto.com.
Montner & Associates