GZS processes international chip standard for Deutsche Bank

Monday 9 May 2005 11:27 CET | News

In a joint venture with MasterCard and chip vendor Giesecke & Devrient GmbH, GZS Gesellschaft fÜr Zahlungssysteme mbH has taken new premium credit cards fitted with EMV (EUROCARD, MasterCard, Visa) chips into production for clients of Deutsche Bank.

The cards were introduced after a lead time of just three months and have been handled by the processor ever since. “The chip involves an internationally deployed EMV card product which will help counteract card fraud in the framework of a liability shift,” explains Gabi Disselbeck, head of GZS’s Smartcard Competence Center. “The functionalities for the chip application were already implemented in the course of the EMV introduction.” GZS has been pioneering the use of EMV technology for a long time: after making the headlines as the first processor of MasterCard credit cards with Seccos chips in late 2003, and handling Germany’s first EMV transaction in acquiring and network operations, it concluded the final host acceptance for full chip processing at the end of 2004.

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

Payments & Commerce