Source: Giesecke & Devrient
Giesecke & Devrient (G&D) is the first company in the world to receive MasterCard approval for an M/Chip™ Advance compliant card product.
M/Chip Advance is MasterCard's latest generation payment application specification, which combines dual-interface payment functionality with state-of-the-art 'on-card' data storage functionality. M/Chip Advance provides card issuers with a platform to introduce new cardholder services for transit, loyalty and other innovative entitlement applications. It also offers a number of advantages in terms of core payment functionality. G&D's M/Chip Advance card product is a dual-interface card belonging to the Convego Join product family.
Giesecke & Devrient has implemented M/Chip Advance in its tried-and-trusted Convego Join card product family. The first available G&D M/Chip Advance card product is a dual-interface card featuring MasterCard® PayPass™ contactless payments. This card product runs on a highly flexible Java-based operating system that allows a range of different applications to be implemented on one single card.
"By integrating M/Chip Advance into the Convego product portfolio, G&D is making a significant contribution to the further development of cashless payment systems. M/Chip Advance combines features that will drive payment innovation in areas such as transit and loyalty with significant improvements in terms of issuer control - and this will bring benefits to all stakeholders in the card payment eco-system" explains Axel Deininger, Head of the Payment division at G&D.
Ed McLaughlin, Chief Emerging Payments Officer at MasterCard Worldwide, says: "We are very pleased that Giesecke & Devrient is our first industry partner to receive approval for an M/Chip Advance card product. The G&D Convego Join M/Chip Advance card product will help the industry in its efforts to encourage the move to a cashless society and will enable innovative MasterCard-branded payments in new acceptance environments."