MasterCard Surpasses 200 Million Smart Card Milestone

Friday 5 November 2004 10:24 CET | News

MasterCard International has reached a key milestone, as of the third quarter 2004, MasterCard’s customer financial institutions have issued more than 200 million MasterCard, Maestro and Cirrus smart cards around the world.

This key milestone confirms that global EMV chip deployment on MasterCard payment cards is now entering into a new phase of mass market adoption in Europe, Latin America, Africa, Asia and the Middle East. Forty percent of these 200 million smart cards, now carry an EMV chip. These EMV chip cards are currently accepted at approximately 1.5 million fully-approved EMV terminals worldwide, representing an 85 percent increase in EMV-enabled terminals year to date. The M/Chip Deployment Program The M/Chip Deployment Program, the basis of MasterCards OneSMART MasterCard umbrella chip program, supports all aspects of chip migration and is organized around three streams of activities: - Product Development: Specifications, branded product integration, infrastructure support and services - Deployment Support: Chip migration services covering business, interoperability and project management aspects - Vendor Cooperation: M/Chip product development, joint marketing. At the cornerstone of MasterCards payment and added value programs, is MasterCard M/Chip 4, a highly flexible smart card application for credit and debit cards. Through the M/Chip Deployment Program, M/Chip 4 is now supported by leading vendors such as Axalto, Austria Card GmbH, Dai Nippon Printing Co., Ltd, Gieseke & Devrient GmbH, Gemplus, Oberthur Card Systems, ORGA Kartensysteme GmbH, Sagem, SETEC OY, STMicroelectronics, Toppan Printing Co., Ltd and Trüb AG. Additionally, based on the pre-approved and ready to go MULTOS M/Chip 4 implementation, all card vendors and issuers can take advantage of M/Chip 4 on this highly secure multi-application platform. MasterCard also has key cooperation agreements with ACI, Datacard and Ingenico to enhance support for M/Chip in their product lines. Value-Added Chip Solutions To further enhance their smart card business case, MasterCards customers can leverage MasterCard M/Chip 4 as the technical basis on which to deliver a range of additional value-added applications, including: - OneSMART MasterCard Pre-Authorized – Allows the cardholder to place an amount of cash in a pre-authorized account, which is regulated by the chip’s open-to-buy counter. The cardholder continues to use the card in an off-line mode until the amount requested exceeds the card’s “open-to-buy” counter, at which point funds must be replenished. This new application extends the Maestro value proposition by enabling debit cards to be issued to new customer segments and accepted by new merchant categories. MasterCard and Capitec Bank in South Africa recently announced a pilot of the world’s first pre-authorized debit card, using the MULTOS chip platform. Also, MasterCard has recently secured access for its customers to a highly-secure and cost-efficient M/Chip card solution from Atmel and Sagem, which is particularly well suited for Pre-Authorized programs. - OneSMART MasterCard Authentication Program - M/Chip 4 cards can be used in conjunction with MasterCard SecureCode to generate the authentication data necessary to guarantee e-commerce transactions. This program, called the Chip Authentication Program, is a smart card based authentication solution that MasterCard is making available to its issuers as part of its global MasterCard SecureCode solution. It can also be used to increase security for Internet banking and other applications requiring strong cardholder authorization. - OneSMART MasterCard PayPass - M/Chip 4 also supports emerging solutions such as PayPass, MasterCards contactless payment program. As M/Chip 4 is a highly flexible solution that can be customized to meet issuers needs, it can be offered with the PayPass contactless capability. The single chip application can be accessed either in contact or

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Categories: Payments & Commerce | Cards
Countries: World
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Payments & Commerce