Gemalto (Euronext NL0000400653 GTO), a world leader in digital security, today announces it is providing Garanti Bank, a leading credit card issuer in Turkey, with Europe's first smart banking cards featuring EMV technology, loyalty schemes and the contactless payment capability.
Gemalto has been a major supplier to Garanti Bank since 2000 and has already provided the bank with several million of its multi-application smart cards, which incorporate EMV-compliant credit functions and a loyalty program. Leveraging the success of this first deployment, Gemalto is now upgrading Garanti's BonusCard with the MasterCard PayPass functionality to allow consumers to benefit from the speed and convenience of contactless at movie theatres, fast food restaurants and supermarkets.
The Gemalto smart cards incorporate the MasterCard PayPass contactless capability which allows Garanti Bank customers to enjoy a new and trendy means of payment by simply tapping their card on the reader or within a few centimetres of a point-of-sale terminal. Furthermore, the MasterCard PayPass technology saves time for both cardholders and retailers and enhances their payment experience, as they no longer have to fumble for change.
Reha Emekli, Vice President Garanti Payment Systems, said: "Gemalto's extensive experience provides a reliable and cost-effective way to bring contactless solutions to our market. The possibility of any form factor necessary such as inlays, key fobs, wristwatches, including reader solutions, will help us differentiate ourselves in Turkey's highly competitive payments market."
"Both Gemalto and Garanti Bank share the same vision of pioneering financial products," added Philippe Cambriel, president banking and security at Gemalto. "We are proud to bring Garanti Bank our technological expertise for Europe's first large-scale deployment of contactless banking cards."