VASCO Data Security International, Inc. (NASDAQ:VDSI), the global number one vendor of strong user authentication products to the financial sector, today announced that its Digipass unconnected secure smart card readers have been the first authentication product worldwide to be EMV-CAP 2004 certified by MasterCard.
With the certification, VASCO's products meet MasterCard's most recent Chip Authentication Program requirements for highly secure card readers. Banks selecting VASCO's readers can embark on the distribution of EMV-CAP smart cards, without worrying about reader-smart card - validation server compliance issues. MasterCard's EMV based CAP (Chip Authentication Programme) program 2004 adds a number of important features to its predecessor, MasterCard's EMV based CAP (Chip Authentication Programme) program including an extended digital signature functionality. VASCO has a proven range of unconnected secure smart card readers. In total, VASCO has sold over 6 million smart card readers worldwide, which makes the company the absolute market leader as a provider of secure smart card readers to the financial sector.
By using VASCO's Digipass secure smart card readers in conjunction with an EMV smart card, end users can use the same EMV card and PIN, not only to get money out of an ATM or to pay for purchases in a shop, but also to do all kinds of online transactions such as Internet shopping and Internet or telephone banking in a secure way. The PIN code they use to get money out of an ATM or to pay bills in a shop can also be used to activate the Digipass card reader. That way, end users only need to remember one single PIN code to do both physical and online transactions while taking full advantage of EMV security.
"The MasterCard CAP program is of strategic importance for VASCO," said Jan Valcke, VASCO's President and COO. "We believe that we will land the first substantial MasterCard EMV-CAP orders this year. The fact that we are the first secure reader vendor to be EMV-CAP 2004 certified, adds a crucial competitive advantage to our offering."
"One of the great benefits of MasterCard's Chip Authentication Programme to banks is that it can be a natural extension to their work to implement chips," said Fikret Ates, MasterCard's Vice President, Chip Product Management. "It enables them to leverage their existing or future EMV investments to address the issue of payment security and convenience across different services such as online banking and e-commerce. I am pleased to see VASCO delivering this new product hence demonstrating its key expertise in the area of Strong Authentication solutions."