Gemalto Provides First VISA Java EMV Cards in Hong Kong
Gemalto’s EMV solution to offer DBS Bank cardholders a more convenient and secure payment experience
Amsterdam, Hong Kong, November 15, 2006–Gemalto (Euronext NL0000400653 GTO), a world leader in digital security, announces today that it has delivered the first Visa Java EMV cards to DBS Bank (Hong Kong) Limited (“DBS Bank”), an Asia banking specialist and one of the leading card issuers in Hong Kong. This project marks a significant milestone for smart card development in Hong Kong’s banking industry.
In order to meet the latest Visa’s security requirements, DBS Bank chose to partner with Gemalto in implementing its ComPass Visa card program. The Visa EMV (Europay, MasterCard, Visa) cards comply with EMV requirements and will help DBS Bank to bring greater peace of mind for cardholders, with additional protection against fraud, and with further increase brand recognition. Gemalto’s Visa EMV card is highly secure and has an open platform operating system that enables post issuance application downloads and loyalty functions. Additionally, the card provides a unique attraction for users by featuring a translucent card body, which is particularly nice-looking. With these Visa Java EMV cards issued by DBS Bank currently in circulation, this migration to the EMV standards will kick off the largest exercise of its kind in Hong Kong market.
“As one of the market leaders, the adoption of the EMV Chip for our ComPass Visa cards will certainly put us in the forefront of the card industry,” said Vincent Chiang, Managing Director, Card and Loans, Consumer Banking of DBS Bank. “We are very pleased to be partnering with Gemalto which has extensive experience in EMV migration. We believe that this project will be a great success, not only acting as a major step forward for DBS Bank, but for the banking market in Hong Kong as well. Following the launch of this Visa EMV card, our customers will benefit from a more convenient and secure payment experience and enjoy rewards from loyalty programmes.”
In taking the lead in DBS Bank’s EMV migration project, Gemalto’s card solution enables the bank to introduce to Hong Kong market its ComPass Visa card program, involving in particular two major cards issued by the bank: ComPass Visa Card and ComPass Everyday Visa Card. In addition to supplying its most advanced technology cards, Gemalto also provided full consulting support to the DBS Information Technology team, to point of sales vendors, to loyalty program providers, and to personalization service providers throughout the entire process.
“Gemalto is honoured to be part of this landmark event,” said Tan Teck Lee, President of Gemalto North Asia. “Our capabilities reach far beyond card solutions, helping our partners design smart card applications and implement their EMV migration programmes. We provide clients with valuable local support. This is essential in maintaining a strong partnership.”
Headquartered in Singapore, DBS is one of the largest financial services groups in Asia with operations in 15 markets. The largest bank in Singapore and the fifth largest banking group in Hong Kong as measured by assets, DBS’ “AA-” and “Aa2” credit ratings are among the highest in the Asia-Pacific region. DBS has leading positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund raising. Beyond the anchor markets of Singapore and Hong Kong, DBS serves corporate, institutional and retail customers through its operations in China, India, Indonesia, Malaysia, Thailand and The Philippines. More information about DBS Group Holdings and DBS Bank can be obtained from it’s website http://www.dbs.com.
Gemalto (Euronext NL 0000400653 GTO) is a leader in digital security with pro forma 2005 annual revenues of EUR 1.7 billion (USD 2.2 billion), operations in 120 countries and 11,000 employees including 1,500 R&D engineers. The company’s solutions make personal digital interactions secure and easy in a world where everything of value – from money to entertainment to identities – is increasingly represented as bits and bytes communicated over networks.
Gemalto thrives on creating and deploying secure platforms, portable and secure forms of software in highly personal objects like smart cards, SIMs, e-passports, readers and tokens. More than a billion people worldwide use the company’s products and services for telecommunications, banking, e-government, identity management, multimedia content, digital rights management, IT security and other applications. Gemalto was formed in June 2006 by the combination of Axalto and Gemalto International S.A. For more information please visit http://www.gemalto.com.