Test Shows Infineon Payment Chip Technology Speeds Creation of Visa Contact Payment Cards
Milpitas, CA –July 11, 2016 –Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) today announced that it now offers a pre-integrated and certified Visa payment solution that includes a Java operating system and Visa contact payments applet. The solution fulfills the highest security standards and achieves personalization performance that is at least 38 percent faster than alternatives, as demonstrated in benchmark testing.
Chip card personalization is a required step in the process of issuing payment cards to card holders. Infineon contracted with Entrust Datacard Corporation to benchmark its SLC 32P payment solution against three other solutions using the same equipment and software (the Visa “US Credit Online only” profile). For the Infineon chip, personalization was implemented between three and ten seconds faster than other comparable chips.
“With hundreds of millions of chip-equipped payment cards being issued in the U.S. in the next few years, a time savings of just 3 seconds for each card is significant to card issuers,” said Joerg Borchert, VP of Infineon Americas chip card and security business. “The performance advantage of Infineon’s payment chips with Solid Flash™ technology can improve processing time by hundreds of hours for a large-scale issuer, helping to optimize equipment utilization, remove personalization bottlenecks and reduce overall costs.”
According to data from Visa, the number of Visa chip cards increased more than 600 percent between 2014 and 2015. In order to push this extremely high number of cards into the US market based on the pre-integration of software with chip modules, improvements to the performance in the card issuance process can be a great benefit to card issuers and Service Bureaus.
More information about Infineon’s products and solutions for securing the IoT can be found at www.infineon.com/payment