Oberthur Technologies will continue to supply next generation chips for debit and bank cards to Swiss banks after extending its partnership with SIX Payment services, Switzerland’s leading card processor.
SIX Payment Services releases a new chip specification on behalf of the Swiss debit card issuers every four years, followed followed by the evaluation of two suppliers. OT was selected in 2010 to develop and supply EMVI’12 chips from 2012 to 2016. The new product generation, called EMVI’16, will be issued from 2016 till 2020 and will be based on the specifications of EMVCo CPA (Common Payment Application), MasterCard PayPass and VCPS (Visa Contactless Payment Specification).
EMVI’16 will enable the Swiss banks as well as international issuing processing customers of SIX Payment Services to offer Contactless payments on top of standard debit, credit and e-commerce functionality for MasterCard and Visa brands, enhanced by SIX Payment Services’ proprietary functionalities at the choice of the issuers.
“We are very pleased to renew our partnership with SIX Payment Services for this new EMVI’16 generation” commented Eric Duforest, Managing Director of the Payment Business Unit at Oberthur Technologies. “This demonstrates our commitment to the Swiss banking market. This state-of-the-art product will enable banks to propose an enhanced value proposition to their cardholders, including the convenience of contactless payment”.
Whitepapers
Related reading
Travel industry must keep up with consumers’ payments demands
Payments providers must keep up with the fast-paced change of consumer demands in the travel sector, according to Kevin White, Mastercard’s director ... read more
Nissan joins in-car payments race
Payments services providers and fintechs have unleashed a flurry of collaborative innovations over the course of the past decade in order to ... read more
Ripple courting banks, paytech and big fintech to beat Swift to emerging markets
Midway into 2019, Ripple is broadening its clientbase in order to boost growth and capture emerging market volumes, according to Marcus Treacher, ... read more
UK SMEs need to embrace technology revolution
Modulr CEO Myles Stevenson and Seamus Smith, executive vice president of worldwide payments and banking for Sage, on why now is the time to embrace digitisation
