18 July 2018
Visit www.avoka.com

Sagem wins French chip card contract

15 January 2003  |  5473 views  |  0 Sagem wins French chip card contract

French telecomms and defence firm Sagem has won a tender to develop a new generation of smart chip cards for national card association Groupement des Cartes Bancaires CB.

The new bankcard will contain an application defined by Groupement des Cartes Bancaires CB in compliance with the EMV specifications, bringing French cards into line with international norms. Its high processing and memory capacity will also allow for other applications such as loyalty, electronic signature and electronic purse to be implemented on the same card.

The new chip will also contain a cryptoprocessor using Dynamic Data Authentication to make every transaction unique, thus significantly increasing the security of the card payment system.

Yves Randoux, CEO of Groupement des Cartes Bancaires CB, says the new cards will "permit CB member banks to meet the future challenges of the continually evolving European payment markets".

Currently there are in excess of 45 million CB cards in circulation, and the CB banking community plans to issue the new card as of 2004.

Sagem, which recently acquired a 10% stake in troubled card manufacturer Gemplus, says the new contract should double its 10% share of the French chip card market.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Citi takes delivery of SchlumbergerSema chip card offerings

Citi takes delivery of SchlumbergerSema chip card offerings

10 December 2002  |  4867 views  |  0 comments
Lassus' stake in Gemplus snapped up by Sagem

Lassus' stake in Gemplus snapped up by Sagem

06 December 2002  |  3508 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://secure.vasco.comVisit http://go.jumio.com/finextraAdVisit info.nice.com

Top topics

Most viewed Most shared
Metro Bank opens developer portalMetro Bank opens developer portal
9782 views comments | 5 tweets | 14 linkedin
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
9534 views comments | 3 tweets | 7 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9331 views comments | 6 tweets | 15 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
8550 views 19 comments | 14 tweets | 30 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
8026 views comments | 1 tweets | 5 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY USA

Find your next job