Finnish card payment processor Luottokunta has contracted with LogicaCMG for the implementation of a national multi-application chip card programme.
The multi-million euro implementation will replace Luottokunta's entire platform for card issuing, acquiring, interchange, settlement and transaction switching. Importantly, it will support new security features to achieve full compliance with the global EMV (Europay, Mastercard and Visa) standards, allowing all banks and retailers in Finland using Luottokunta's services to process chip card transactions. It will also enable other chip applications such as ID, advanced loyalty and travel to be integrated onto a single smart card.
The end-to-end solution is being delivered by Logica as systems integrator in association with partners Oasis Technology and Datacard Group.
Oasis will integrate its IST/Switch and IST/Card products to drive point-of sale transaction processing (including EMV), manage ATMs, and provide an enhanced system for card issuing and management. The open software architecture, based on Oasis' component-based IST platform, will also incorporate a three-tier architecture and Java GUI to provide enhanced payment systems management, configuration and monitoring.
In a future stage of the project, Oasis will also provide its IST/Clearing and IST/Merchant Accounting System products to manage Luottokunta's clearing and settlement business.
The contract is LogicaCMG's second major national EFT infrastructure win in as many months, following November's deal to build a new payments network for the Saudi Arabian Monetary Agency.