National Bank of Canada plans smart card pilot
05 July 2007 | 2145 views | 0
Source: National Bank of Canada
National Bank (Toronto:NA.TO) has announced that it plans to carry out a smart card pilot project in St-Jerome in summer 2008.
This project will enable the Bank to test the compatibility of its ABMs and systems with this new technology in a controlled environment while ensuring the reliability of various other elements involved in payment and transaction processes.
"Smart card technology is a powerful tool that will open up a world of opportunities. This project is evidence of the Bank's commitment to developing a new line of innovative, user-friendly and secure products for clients," stated Paolo Pizzuto, Vice-President - Electronic Payment Solutions.
The entire Canadian financial market is migrating toward smart card technology. In line with the rest of the industry, National Bank will gradually start introducing smart cards in 2008 and has already announced its participation in a chip technology trial in Kitchener-Waterloo in spring 2008.
National Bank has always prided itself in offering its clients efficient, secure and leading-edge credit and debit card solutions and has been working to adapt its infrastructure over the past few months in preparation for the new smart cards.
"These various pilot projects will ensure a smooth transition to this advanced technology," adds Paolo Pizzuto.
A smart card is a credit or debit card with a built-in microchip containing encrypted data. In addition to ensuring greater protection and security, this technology will provide a platform for new product and service offerings in the future.