OT (Oberthur Technologies), a leading global provider of embedded security software products and services, today announced the supply of its White Label Independent Secure EMV (WISE) Solution to SIX Payment Services, one of Europe’s largest card transaction processors and market leader in Switzerland, Austria and Luxembourg, in the framework of the EMVI’16.
EMVI’16 new chip specification, on behalf of Swiss debit card issuers, facilitates the transition from contact to contactless payment in line with growing customer demand for mobility, frictionless and convenient payment.
Already announced in 2014, the partnership between OT and SIX Payment Services takes on a new dimension with the delivery of OT’s WISE Solution from 2016 to 2020. WISE by OT is a comprehensive offer with solutions based on common standards, enabling cost reduction associated to card issuance and processing, as well as optimal flexibility for managing a card portfolio.
OT provides its contact-only and dual interface solutions according to EMVI’16 specifications of SIX Payment Services, featuring EMVCo CPA (Common Payment Application) and, in order to in fine offer Swiss end-users with the convenience of contactless technology simply by waving their payment card in front of a contactless terminal, MasterCard PayPass and Visa VCPS.
“We are delighted to continue to serve SIX Payment Services to enable banks to offer added value services to their cardholders” said Eric Duforest, Managing Director of the Financial Services Institutions business at OT. “Thanks to our leadership in global markets, OT is a reliable partner to answer specific requirements and needs of a given country, such as EMVI’16 in Switzerland”.
“Our partnership with OT has been ongoing for several years and we are happy to collaborate with OT to become a major and trusted stakeholder on our market. We are glad that our banking customers will be able to offer contactless payments to their cardholders who will make their shopping habits more convenient, quick and fun while remaining secure” said Andrej Eichler, Managing Director at SIX Payment Services.
WISE stands for White Label Independent Secure EMV. This comprehensive offer is dedicated to private label (petrol, retail, etc.) or domestic Payment Schemes wishing to migrate existing card estates from magstripe to EMV, or launch chip card programs from scratch.
Contributed | what does this mean?