Cryptomathic reports Canadian bank deal

Source: Cryptomathic

Cryptomathic's data preparation system, CardInk, has been selected by a leading Canadian financial institution to facilitate the issuance of EMV payment cards to customers in an EMV smart card issuance programme which is scheduled to commence in early 2008.

CardInk - Cryptomathic's second generation EMV data preparation system for single and multiple application cards - will be used to generate the personalisation data, including all cryptographic data for the issuer's EMV programme, ensuring secure data generation and key management in the card issuing process.

Initially, Cryptomathic CardInk will be deployed for the production of a limited number of cards in the Kitchener-Waterloo chip trial, which is being rolled out in Ontario by key members of the payment card industry, including the Interac Association, MasterCard Canada Inc., Visa Canada Association, and many of their respective card issuers and processors.

The trial will allow participants to test the infrastructure and ensure interoperability of systems and devices in a controlled manner prior to each participant's national roll-out plan. The first chip transactions within the trial will occur in the autumn of 2007.

The deployment has resulted in Cryptomathic updating CardInk to support Interac, the Canadian national debit application, in addition to Visa's EMV and Chip Authentication Program (CAP) applications - Visa Smart Debit/Credit (VSDC) and Dynamic Passcode Authentication (DPA).

Peter Landrock, Executive Chairman of Cryptomathic, comments: "We are excited by the prospect of working with a leading Canadian issuer on their national EMV deployment and look forward to showcasing our capabilities in the multi-participant Kitchener-Waterloo trial. With Cryptomathic CardInk, all data generation and preparation takes place inside a tamper resistant Hardware Security Module, making it one of the safest solutions currently available. CardInk can also be adapted very easily to suit similar security data preparation requirements across industries, making it the most advanced and flexible technology offering in the market today."

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