MasterCard release M/Chip 4 smart card application

MasterCard release M/Chip 4 smart card application

Mastercard has released version 4 of its smart card application M/Chip, for debit and credit cards.

The payment application enables financial institutions to issue MasterCard, Maestro and Cirrus branded smart cards on a chip platform.

Mastercard members can migrate to chip either via M/Chip Lite, which is a streamlined version of the application, or M/Chip Select which includes RSA computing facilities for security functions.

Both programmes can be implemented on all major smart card platforms including Multos and JavaCard.

M/Chip 4 implements an EMV defined session key algorithm for issuers who want a single authorisation process. Card issuers can also use the system to segment their portfolios and control card use at specific merchant categories. M/Chip 4 cards can also be used in conjunction with MasterCard's SecureCode authentication programme.

Toni Merschen, senior vice president, chip and mobile commerce centre of excellence, MasterCard International, says: "Our OneSmart platform, built around M/Chip 4, represents an all-in-one package for strengthening customer relationships and greatly reducing card fraud, processing costs, and chargebacks, while expanding card acceptance in markets that were previously off limits."

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