Oberthur Technologies Achieves MasterCard Certification for Flash Memory Based Payment Cards - Giving More Flexibility to Financial Institutions in Issuing Cards and Reducing Time to Market
Oberthur Technologies, the world's second largest provider of smart card based solutions announces the successful completion of MasterCard CAST certification (Compliance Assessment & Security Testing program) for its Flash memory based payment card.
With the completion of MasterCard's most stringent security testing, Oberthur Technologies has demonstrated that Flash-memory based payment cards can be fully compliant with global payment standards. Flash-memory based products bring more flexibility to financial institutions in issuing with a reduced time to market by eliminating the "masking" phase, which is usually required to load software onto the payment card's chip during the manufacturing process. With Flash memory, cards can be securely loaded with customized applications such as debit, credit or other payment applications without having to go through the masking process.
Flash technology has become the universal memory standard in the semiconductor world, and is commonly used in SIM cards for mobile phones or for mass storage devices. It provides greater flexibility for managing applications and no power is needed to maintain the information stored.
"We are proud to announce that Oberthur Technologies has obtained the CAST certification for a Flash based payment card guaranteeing compliance with MasterCard requirements. It shows Oberthur Technologies' capacity to innovate and develop new products that are built on years of experience and expertise in security", says Frederic Chevreton, General Manager, Payment Product Line, Card Systems Division at Oberthur Technologies.
"To combine the characteristics of flash technology and payment card platforms will bring key benefits to issuers, says Art Kranzley, Chief Emerging Technology Officer at MasterCard. "Flash-based products are looking extremely promising and are showing an increasing interest for the payment industry. This CAST approval obtained by Oberthur Technologies is an important step forward."
With sales of 882 million Euros in 2008, Oberthur Technologies is a world leader in the field of secure technologies. Innovation and high quality services ensure Oberthur Technologies' strong positioning in its main target markets:
- Card Systems: The world's second largest provider of security and identification based on smart card technology and associated services for mobile, payment, transport, digital TV and convergence markets;
- Identity: Leading international supplier for the manufacture and personalization of secure identity documents such as passport, identity card, driving license or health care card - traditional and electronic - and associated services for both governmental and corporate markets;
- Security printing: World's third largest private security printer specialized in high security for the production of banknotes, checks and other fiduciary documents in more than fifty countries;
- Cash protection: World leader in the emerging market of intelligent systems to secure cash-in-transit and ATM.
Close to its customers, Oberthur Technologies benefits from an industrial and commercial presence across all five continents.