23 February 2018
Visit www.avoka.com

Sagem wins French chip card contract

15 January 2003  |  5421 views  |  0 Paris

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  |  4815 views  |  0 comments
Lassus' stake in Gemplus snapped up by Sagem

Lassus' stake in Gemplus snapped up by Sagem

06 December 2002  |  3464 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
Register for the webinarVisit https://www.capgemini.comvisit www.swift.com/your-needs/instant-payments

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
11125 views comments | 14 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10144 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8011 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
7650 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7419 views comments | 10 tweets | 14 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job