24 April 2014

Fime helps Net1 achieve MasterCard certification for South African e-purse

10 September 2012  |  1516 views  |  0 Source: Fime

FIME has provided consultancy services to Net1 UEPS Technologies - a leading provider of secure and affordable transaction channels to developing countries - which has resulted in a MasterCard® Compliance Assessment and Security Testing (CAST) certification for its South African e-purse payment solution.

Through the supply of chip card technologies and systems, Net1 provides alternative payment solutions for populations in developing economies with no, or limited access to traditional banking facilities. Net1 appointed FIME to assist in the preparation for evaluation and certification of its e-purse application in line with MasterCard security requirements.

As a global leader in consulting and market integration testing services for smart devices and secure chip application, FIME worked with Net1 during its CAST project to ensure the product would be successfully certified at the Thales IT Security Evaluation Facility (Thales ITSEF), which is a MasterCard approved security evaluation centre.

Nitin Some, Chief Technology Officer at Net1, comments: "As new technology continues to be a key growth driver in South Africa and other developing economies, it is extremely important that the region's financial card infrastructure is built on an interoperable and secure framework. Security testing is therefore crucial to ensure that all products and solutions are successfully and efficiently developed and brought to market. We are delighted to work with FIME to achieve the required security standard for our UEPS/EMV e-purse application, which provides an alternative payment solution to those with limited access to traditional banking facilities."

Pascal Le Ray, General Manager at FIME, adds: "This security certification is an example of FIME's strategy to work with respected partners to enable a host of certifications and approvals required by our customers."

FIME is able to offer consultancy and test services to all payment transaction providers looking to achieve MasterCard CAST certification at Thales IT Security Evaluation Facility (Thales ITSEF).

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