Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, has been selected by the Debit Network Alliance1 (DNA), a consortium of leading U.S. debit network providers, to deliver EMV consulting services.
Gemalto's EMV Allynis Consulting Services are designed to accelerate the deployment of EMV, significantly reducing time between DNA's business plan and go-to-market. Gemalto's consultants recommended and executed a strategy that details card, terminal and personalization requirements.
"Gemalto provided us with a comprehensive consulting program to validate our DNA AID specification for market readiness," said Paul Tomasofsky, executive director of the Debit Network Alliance. "Gemalto's EMV expert review of our specification enabled us to confidently move forward in our deployment efforts."
With annual costs of card fraud in the U.S. alone estimated at $8.6 billion per year2, EMV will bring a substantial reduction in fraud from point-of-sale (POS) to counterfeit cards. Gemalto consulting experts work with financial institutions to determine the debit or credit chip card profile that meets their current needs. To simplify the transition process, Gemalto also provides EMV card issuance and fulfilment services thanks to its large EMV footprint in the U.S.
"Our consulting experts have provided their services to over 150 institutions in 54 countries and are able to go beyond card migration, working with customers to outline their business and technology considerations for other forms of payment such as contactless and mobile," said Bertrand Knopf, Senior Vice President of Secure Transactions for North America at Gemalto. "Based on our experience in hundreds of global chip deployments and issuance of over three billion EMV cards, we were able to provide DNA with a validation that their solution is market ready."
1 The founding networks of DNA, AFFN(R), ATH(R), CO-OP Financial Services (R), Jeanie(R), NETS(R), NYCE(R), Presto!(R), PULSE(R), SHAZAM(R), and STAR(R) joined together in a collaborative effort to provide interoperable adoption of chip technology for debit payments, while supporting security, innovation, and optimal technology choice.