Oberthur Technologies has extended its partnership with SIX Payment Services, a Swiss card processor, to develop and supply next generation chips for debit and bank cards to Swiss banks from 2016 to 2020.
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SIX Payment Services releases a new chip specification on behalf of the Swiss debit card issuers every four years, followed by the evaluation of two suppliers. Oberthur Technologies has been selected in 2010 to develop and supply EMVI’12 chips from 2012 to 2016.
The new product generation, called EMVI’16, will be issued from 2016 till 2020 and will be based on the specifications of EMVCo CPA (Common Payment Application), MasterCard PayPass and VCPS (Visa Contactless Payment Specification).
Oberthur Technologies said that EMVI’16 will enable the Swiss banks as well as international issuing processing customers of SIX Payment Services to offer contactless payments on top of standard debit, credit and e-commerce functionality for MasterCard and Visa brands, enhanced by SIX Payment Services’ proprietary functionalities at the choice of the issuers.
Eric Duforest, managing director of the payment business unit at Oberthur Technologies, said: "We are very pleased to renew our partnership with SIX Payment Services for this new EMVI’16 generation.
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By GlobalData"This demonstrates our commitment to the Swiss banking market. This state-of-the-art product will enable banks to propose an enhanced value proposition to their cardholders, including the convenience of contactless payment."
