Fime Asia has been selected by Gemalto, the world leader in digital security, to test compliance of its customised dual-interface payment product prior to launch into the Taiwanese market.
The newly-issued product, FISC II ATM, meets security standards set by Taiwanese certification body, The Bankers Association of the Republic of China (BAROC) and offers both contact and contactless payment capabilities to issuing banks in the country.
Gemalto worked with FIME Asia as the advanced testing specialist, in collaboration with security evaluation laboratory, CEA/Leti. Collectively, the testing partners are accredited by BAROC to perform the security evaluation of smartcard-based payment instruments to Security requirements of BAROC for financial chip card approval and implementation version 2.0. Additionally, Gemalto selected FIME Asia and CEA/Leti to confirm compliance to the Taiwanese payment system, People's Bank of China, as well as international payment systems such as MasterCard and Visa.
Suzanne Tong-Li, President of Greater China and Korea at Gemalto, comments: "Having supported the Taiwanese market with our Optelio payment card for a number of years, it is important for us to now also complete our compliance process on our dual-interface Optelio cards. With EMV migration achieving high adoption across the country, this new offering brings even more options to issuing banks and their customers, while maintaining the highest levels of security."
Jeremy Lee, Innovation Manager at FIME Asia, adds: "As ecosystems evolve and new payment technologies are launched into regional and international markets, compliance and interoperability testing becomes essential. We were delighted to offer our consultancy and testing services, in partnership with CEA/Leti, to Gemalto in order to facilitate the swift, smooth and successful launch of its product into Taiwan."
The security evaluation conducted by FIME Asia and CEA/Leti incorporated source code analysis supported by independent testing and a vulnerability analysis based upon the functional and security architecture requirements outlined in the specification. Penetration testting was also conducted to demonstrate the resistance of the product to high attack potential. As a result of this activity, the testing partners have demonstrated that Gemalto's smartcard product has achieved a resistance to hackers with a high attack potential.