16 December 2017
visit www.avoka.com

Aconite targets governments with pre-paid cards

04 October 2010  |  894 views  |  0 Source: Aconite

In response to new opportunities in the marketplace for prepaid card applications, Aconite is broadening its focus to encompass national and local government-sponsored applications of its ground-breaking prepaid payment technology.

While financial sector customers remain at the core of Aconite's business plans, more and more government and local authority programmes that include requirements for chip-based prepaid tokens based on international EMV* standards for secure payments are emerging. Aconite is ready to meet these demands by applying its expertise in ‘smart products' and prepaid EMV technology to applications outside the familiar world of debit and credit cards, where hundreds of millions of EMV cards have already been issued worldwide and have had a huge impact on the control of fraud and risk. Growth areas include transit with payment, ID with payment and benefit/entitlement cards that eliminate fraud from public payment schemes.

Aconite's prepaid EMV capabilities have been demonstrated in the successful launch of the first in a series of regional transit schemes in South Africa. Aconite technology is controlling the smart payment tokens, loading prepaid funds and reconciling settlement in the back office. Around the world the growing focus of transit authorities is on the use of prepaid contactless EMV cards and mobiles for fare payment, and governments are now looking to add prepaid payment capability to ID and membership cards - to new cards and retrospectively to smart cards that have already been issued - in areas ranging in diversity from the armed forces to healthcare and local libraries.

Our proven ability to deliver payment solutions and implementation services means that Aconite stands ready to meet these demands. With our partners in all sectors of national and local government and retail and corporate finance, Aconite is looking forward to an instrumental role in the spread of secure and convenient payment services in these new and exciting areas.

[*EMV - the global standard for chip payments originated by Europay, MasterCard and Visa]

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.ebaday.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10377 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9837 views comments | 18 tweets | 36 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7071 views comments | 19 tweets | 21 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6470 views 0 | 4 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
6225 views comments | 9 tweets | 9 linkedin

Featured job

Germany, Austria or Switzerland

Find your next job