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May 13, 2014

Gemalto purchases two payment card personalization bureaus in US

Gemalto has purchased Shoreline and Source One Direct, two personalization bureaus in the US from Cardiff Holdings, to offer customized payment cards to financial institutions in the country.

By Verdict Staff

Gemalto has purchased Shoreline and Source One Direct, two personalization bureaus in the US from Cardiff Holdings, to offer customized payment cards to financial institutions in the country.

Located in North Kingstown, Rhode Island and in Atlanta, Georgia, both activities provide secure personalization services for payment cards addressing credit and debit card issuers in the US.

The US has set deadline as October 2015 to migrate on EMV chip technology by replacing the older magnetic stripe cards in a bid to offer secure financial transaction.

Gemalto CEO Oliver Piou said, "The US market is rapidly moving to EMV, and this is another step in our ongoing investments to have the best mix of products and services to support our customers."

"Adding these two companies to the Gemalto family will benefit US banks and credit unions of all sizes as they migrate their card portfolios to more secure smart card technology, which has proven to mitigate fraud in all regions of the world."

Financial terms of the transaction have not been revealed by the parties.

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