This MasterCard M/Chip-powered card features a contact interface for traditional EMV (Europay MasterCard Visa) payments and the OneSmart MasterCard PayPass functionality for EMV contactless payments for use in both transport and retail environments. This enhancement to Axalto terminals will allow consumers to benefit from the speed and efficiency of contactless at convenience store chains, movie theaters and retail merchants.

The Axalto terminals are updated with an external reader to accept the TaiwanMoney Card. Within this project, Paysys Communications Pte Ltd, an Axalto partner based in Malaysia, has developed the software required to integrate the contactless application into the terminals. This Axalto solution was certified last October by Mondex Taiwan, a subsidiary of MasterCard International.

"We are committed to offering our customers the opportunity to use the TaiwanMoney card as much as possible," commented Elvin Huang, President of Mondex Taiwan Inc. "Axalto was able to have its contactless solution certified in a very tight schedule, which will contribute to the success of this major deployment."

"Axalto is dedicated to supporting Mondex Taiwan Inc. in the introduction of the TaiwanMoney Card," added Michel Leger, vice president e-payment for Axalto. "We are convinced that the security brought by our chip-based solution and the convenience and speed of the contactless functionality will make a very attractive combination for cash replacement."