Gemalto, a world leader in digital security, announced today that its personalization center outside of Toronto, Ontario, Canada is the first to achieve smart banking card certification from Interac, Canada's debit and Automated Banking Machine (ABM) network.
Gemalto adds this to existing ISO, MasterCard and Visa certifications, demonstrating its commitment to help Canadian financial institutions overcome credit and debit card fraud. This will be accomplished by converting an estimated 100 million magnetic stripe payment cards to microprocessor-based smart cards.
Having met all of Interac's stringent standards for security, reliability and performance, Gemalto can now provide financial institutions with chip-based banking cards for use within Interac's Shared Services, including Interac Direct Payment (IDP), Canada's national debit card service, and Shared Cash Dispensing (SCD), for cash withdrawals at ABMs. Interac has set final deadlines for the conversion to smart bankcards. Its Shared Services will be ready to use chip-based banking cards in 2007 and by 2015, magnetic stripe cards will no longer be accepted within the network.
"This certification allows us to work with Interac and its members to ensure that the transition to smart card-based payment cards in Canada is smooth and successful, and that cardholders are able to experience the security and privacy that these cards provide," said Jack Jania, vice president and general manager, financial services, Gemalto North America. "We look forward to our continuing role in helping financial institutions meet Interac deadlines with ease."
Gemalto securely prepares and personalizes smart bankcards at its state-of-the-art personalization center in Burlington, Canada. This is the only Canadian facility today capable of personalizing a full smart bankcard portfolio, including Native and Open Platform EMV cards, contactless cards and dual interface cards. The personalization process includes loading the appropriate cardholder data, then packaging and sending the cards to banks or directly to the cardholders.