First full-grade chip processing by GZS

Monday 24 January 2005 00:17 CET | News

Coinciding aptly with the start of the new year, GZS Gesellschaft fÜr Zahlungssysteme mbH has just been awarded the last of numerous certifications needed for full-grade EMV processing.

GZS finally commissioned the last module of its full-grade chip processing infrastructure for issuing processing. This quantum leap makes GZS Germany’s first processor capable of supporting full-grade chip processing for credit cards fitted with EMV chips. Until now, only mag-stripe conversion had been available on the German market. “With so-called full-grade chip processing, we have implemented the final module in our EMV infrastructure and are now able to offer the highest possible level of security,” says GZS’s EMV project manager, Alexander Daroglou. “Customers who decide to migrate to EMV can take now advantage of the risk management functions offered by this new technology.” GZS has been pioneering the deployment of EMV technology for some time now: after becoming the first processor to handle MasterCard credit cards with Seccos chips at the end of last year, and grabbing the industry’s attention with Germany’s first EMV transactions in acquiring and network services just two months later, it also applied for MasterCard host and terminal acceptance in summer 2004.

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Categories: Payments & Commerce | Cards
Countries: World
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