News

Gemplus Wins EMV Contract to Supply 15 Million Smart Cards to HBOS

Thursday 6 November 2003 22:23 CET | News

Gemplus has won a contract to provide HalifaxBank of Scotland (HBOS), with 15 million smart cards to replace the magnetic stripe system on the banks debit cards. The deal marks HBOS continuing move from magnetic stripe cards to EMV-compliant cards. HBOS current issues approximately five million debit cards per annum, making it one of the largest debit card issuers in the UK. The contract announced today allows for Gemplus to supply up to 15 million smart cards over the next three years. With EMV migration in full swing, HBOS is continuing to play its part in the drive by the UK banking industry to combat card payment fraud, which accounted for nearly 425 million pounds in 2002 in payment losses to banks throughout the UK. Through EMV, HBOS will be able to offer more secure payment functionality for its customers. As part of HBOS migration to EMV the bank will also be introducing PIN based customer verification to further combat fraud. This is in conjunction with the UK PIN at POS initiative. Although all banks are required to go through the EMV migration, HBOS will be among the first UK banks to do so.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Cards
Countries: World
This article is part of category

Payments & Commerce