Campus Cards, College and University Identification and Security

As Canada’s payment cards go to EMV, will fraud migration push U.S. banks to join the smart card world?

Thursday, March 15, 2007


With Canada and Mexico rapidly moving towards EMV deployment, witness the world’s largest player in the credit card market, the United States, left out in the cold. Some say it’s not a matter of if, but when, the U.S. will implement EMV. One reason: once its northern and southern neighbors are EMV-complaint, crooks may find much easier pickings in the U.S.

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SmartMetric has announced plans to “significantly” penetrate the EMV credit and debit smart card market.

EMV, which comes from the initial letters of Europay, MasterCard and VISA, is widely becoming the global standard in the migration from magnetic stripe cards to chip based smart cards, says SmartMetric.

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Retailers in the UK are lobbying for emerging payment technology, viz. contactless payment, to be cheaper to process than current debit and credit cards, which are running them hundreds of millions of pounds in processing fees a year, according to The Register.

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Net1 Universal Electronic Technological Solutions (NUETS) has received an order for a further 1.2 million Universal Electronic Payment System-enabled smart cards from the Iraqi government.

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A joint venture between smart card provider Morpho and Colombian IT enterprise, Assenda, has boosted the migration of all Colombia bank cards to contain EMV chip technology. In 2008 the Colombian government passed a mandate that replaced all mag-stripe cards with smart card-based technology.

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The Canadian Visa vendor Home Trust has selected Gemalto to manage its migration to EMV smart payment cards. Up until now the company has supplied only magnetic strip payment cards. With the support of Gemalto, Home Trust will begin issuing the new cards through pilot programs in Ontario.

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New analysis from Frost & Sullivan shows that current smart card-based transit projects in growing European and world cities will lead to an 11% Compound Annual Growth Rate (CAGR) in smart card shipment from 2009 to 2015.

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