Tag Systems has strengthened its ability to support UK payment card issuers with the transition to the latest Visa and Mastercard payment specifications. In the process, it becomes one of the first companies globally to achieve public approval for Visa 3.1 VIS and VCPS specifications.
Tag Systems, a member of AUSTRIACARD HOLDINGS, has developed a smart card operating system that supports Mastercard’s new ECOS specification. This ensures that Tag Systems can support its UK customers navigate future payment card programmes with confidence as the industry moves towards more advanced cryptographic security.
The changes represent an important step in the long-term evolution of payment security. For banks and fintechs launching new payment programmes, early readiness helps reduce future migration risk and gives greater confidence that today’s card programmes can evolve alongside changing scheme requirements.
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Mastercard ECOS introduces a new generation of contactless payment architecture, which combines stronger cryptographic protection with the fast, seamless payment experience consumers expect. Visa’s latest VIS 3.1 and VCPS specifications also introduce updated personalisation standards that support modern payment applications and future security requirements.
For UK issuers, the transition will not require wholesale replacement of existing card programmes, with migration expected to happen gradually as schemes introduce new requirements and issuers refresh their portfolios. However, as a member of AUSTRIACARD HOLDINGS, Tag Systems is now preparing its software, certification processes and operational capabilities to support UK issuers as adoption gathers pace.
Payments sector technology transition
“Moving to the new standards will involve updates to product configurations, BIN management, certification and scheme compliance,” said Dean Smith, UK managing director of Tag Systems.
“As a leading UK payment card specialist, we are already preparing for this next phase, investing in the software, certification and infrastructure enhancements needed to support customers as they get ready for the latest cryptographic mechanisms and adopt the new specifications.
“The payments industry is entering another important technology transition. Although widespread adoption will take time, banks, issuers and fintechs are already thinking about how today’s decisions will affect tomorrow’s payment programmes. That’s exactly why we’re investing ahead of market adoption, so our customers can prepare at their own pace rather than react when new scheme requirements arrive.
“Our aim is to work proactively with our customers as they plan future card issuance, certification and migration programmes, helping them stay ahead of evolving scheme requirements while continuing to deliver a seamless experience for cardholders.”
