SmartCard Marketing Systems’ CEO Massimo Barone announced Thursday that their company has entered into an agreement to-date with 1 of 2 companies that develop EMV (Euro MasterCard and Visa compliant) platform Smartchip cards.
The company points out that although North American market has not yet embraced these cards to their full potential, financial institutions are making efforts to comply with Global Payment Industry in order to standardize platform structures and open up the North American market.
This will improve network availability and security. Barone explains that RFID or radio frequency
cards have taken a stronghold in the market with contact-less offerings, which do not guarantee security.
Barone believes that partnering with EMV compliant providers in the “smartchip” industry will vastly improve their product offering and open potential new customers to SmartCard through the Velocitymoney offering.
“At present we have become a recognized solution to financial institutions and investing in the EVM compliant “smartchip” we can have a good lead time in the market of which is lagging in this product category and specification,” he added.
SmartCard Marketing Systems expects EMV compliant “smartchips” to be a key product solution for the Prepaid card segment as it will allow for safer protocols to be established and develop opportunities to offer card replacement programs to Prepaid card issuers and Telecom.
SmartCard Marketing Systems made news earlier this week when it signed Online Capital Ltd of Vienna, Austria, for an initial 1000 prepaid cards for implementation with an additional 14000 cards over the next 6 months.
Anuradha Shukla is a contributing editor for TMCnet, covering call centers, CRM and information technology. To see more of her articles, please visit her columnist page.
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