Gemalto is providing Spanish bank, La Caixa, with personalisation and production services to support its roll out of Optelio contactless EMV cards in Spain’s first large scale deployment of contactless payment (view press release). The Gemalto card will enable contactless payments with a swipe or tap against the reader; a PIN code will be required for purchases over EUR20. The bank initially aims to roll out one million contactless cards in Barcelona by the end of the year and is looking to migrate its entire card portfolio to contactless technology throughout Spain by the end of 2015. To support this goal, the bank is simultaneously developing a contactless infrastructure with 15,000 merchants equipped with contactless payment terminals and 500 ATMs featuring built-in contactless readers.
“With this new deployment, la Caixa is positioning itself at the forefront of innovation,” said SVP of Secure Transactions at Gemalto, Gabrielle Bugat. “They are setting up the contactless ecosystem which will help educate and prepare the market for NFC mobile payment and Gemalto is committed to supporting la Caixa in its long terms strategy.”
Last year La Caixa was awarded the prize of the world’s most innovative bank at the Global Banking Innovation Awards.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more