Source: Sagem Orga
Sagem Orga announced today it has signed a contract with LEUMI, the second largest Israeli bank, to supply smart bank cards.
Sagem Orga's solution consists of a new generation of smart cards that comply with EMV (Europay, Mastercard, Visa) banking standards and contain a DDA (Dynamic Data Authentification) cryptoprocessor. This technology, which is a major advance, reinforces the security of bank card payments by guaranteeing the uniqueness of each transaction.
The EMV DDA cards will be the first of their kind to be issued in the Middle East and will number 1.3M. They will be introduced in the Israeli market as of the first half of 2006.
Separately, Sagem Orga also announced it was the exclusive supplier of technology and cards to facilitate the recent launch of the Fransabank MasterCard PayPass.
Fransabank, one of the top 5 banks in Lebanon have selected a number of its customers to take part in the introduction of the PayPass and has already ordered another batch of cards since the pilot cards were launched in February 2006.
"We are proud to pioneer this new payment technology in our country and the region, and to be the third bank in the world to launch PayPass. With PayPass, and for the first time, our customers benefit from a contactless method that makes paying quicker and more convenient. This is to keep up with our leading position in the local banking industry in general and credit cards' market in specific", says Mr. Nadim Kassar, Deputy General Manager from Fransabank.
The PayPass is based on a Multos Mchip in the 32 k EEPROM version. The completely personalized smart card offers true multifunctionality thanks to the combination of contacting and contactless applications.
"This project is one of the most important in the region for Sagem Orga. Building on our existing EMV Dual Interface products, which are now being used in the Middle East as well as in Taiwan and Malaysia, we have reached another milestone in the successful rollout of contactless payment. Sagem Orga is currently working on further PayPass projects and, on the strength of the expanded possibilities it has as a part of the Sagem Group, intends to be a driving force in the implementation of innovative financial solutions in the future", said Silvio Stockmann, head of the Banking unit at Sagem Orga.
PayPass is a contactless payment program that considerably simplifies card payments for the user (The Simpler Way to Pay). Thanks to the PayPass application, card holders can make payments quickly and conveniently on non-contacting card readers. Users simply touch the card readers briefly with the card or pass it over the reader.
The card, which is the first of its kind in the Middle East, can be used as a traditional credit card, and at selected terminals, can be used with the PayPass "contactless" functionality eliminating need for a signature or pin.
The cards contain an RFID chip that emits signals that are received by special readers. The new solution is ideal for transactions where speed counts, for example at service stations, in drugstores, supermarkets, fast-food restaurants or movie theaters.