Banca Monte Paschi taps SIX Payment Services for dual credit-debit card

Source: SIX Payment Services

SIX Payment Services Ltd (SIX), a leading provider of innovative solutions along the entire value chain of cashless payments, today announces the launch of the payments processing technology behind the world's first dual Maestro (debit) and MasterCard (credit) display card with added contactless payments and secure e-commerce functionalities, which successfully went live last week.

Described as a "genuine technology powerhouse" when introduced recently, the card has been created for Belgium's Banca Monte Paschi Belgio (BMPB).

This highly innovative product came as a result of an integration of many of the recent innovations in card issuing into a single product. Banca Monte Paschi Belgio and SIX Payment Services worked together to design the overall solution in order to pioneer this world premiere. Available to cardholders in Belgium since early November, the 'PaschiCombo' card combines three key functionalities:
• Integration of both debit and credit card capabilities onto a single card using one single chip
• Enablement of NFC transactions via the PayPass contactless payments platform
• Built-in passcode display screen, generating individual number sets for 3D secure e-commerce transactions

Through this truly universal card product, customers can benefit from greater simplicity, more space in their wallet and enhanced security levels compared to regular card products.

Dino Albanese, member of the Management Committee at Banca Monte Paschi Belgio, described the experience of working with SIX Payment Services: "With their extensive knowledge of the card issuing business and experience in realizing innovative products, the team at SIX Payment Services contributed a great deal to develop and launch this sophisticated product. Their effectiveness in consulting on the technical and commercial possibilities, as well as their capability to implement, has allowed us without any doubt to issue the most innovative card in the world. We achieved our goal in bringing a truly unique payment solution to our cardholders, one that will make life easier and more secure for them."

Jean-Marc Fandel, Head Financial Industry Services with SIX Payment Services, said of the innovation: "We are very proud to have once again been able to position one of our customers at the forefront of the marketplace lace with a new creative and strategic product. We at SIX Payment Services differentiate ourselves competitively by entering into ongoing conversations with our customers to improve go-to-market strategies, sharing technical insights and detailed industry knowledge in order to develop and shape product execution".

Targeting innovative card issuers throughout Europe, SIX Payment Services operates a modular platform which includes a wealth of features in place to help tailor the most appropriate solution to meet customer requirements. Multiple models of integration with the issuer and its banking systems are possible via online interfaces, file interfaces and real-time web services, giving the issuer full control of the product and access to customer information in real time. 

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