Visa negotiates smart card deals for member banks

Visa negotiates smart card deals for member banks

Visa International is offering member banks discounts from financial technology vendors as part of a global programme to reduce the cost of migrating to chip technology.

Members banks can receive discounts from 20 of Visa's Global Smart Partners for EMV hardware and transaction software, smart cards, POS terminals, loyalty software, test tools and migration training and consulting.

Visa International says the success of previous offers has encouraged it to negotiate more discounts - although most offers are for limited time periods and a limited number of early adopter banks.

James Lee, senior vice president, Emerging Technologies at Visa International, adds: "Through programmes such as the Visa Global Smart Partner Program we are making products affordable so that more banks can participate, which, ultimately, benefits our vendor partners."

Visa has also announced that UbiQ Incorporated and Welcome Real-time have joined the programme, bringing the total number of participants to 30.

In a seperate announcement, Visa Asia is reporting the first cross-border EMV payment transaction in Taiwan using a smart card issued in another country. The upgrading of National Credit Card Centre’s (NCCC) payment infrastructure now enables Visa smart cards that meet the EMV standard issued anywhere in the world to be used to make payments in Taiwan.

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