DaimlerChrysler bank heads EMV uptake in Germany
Fecha Viernes, julio 05 @ 11:10:08
Tema Pago Electrónico :: e-Payment
| Technology group Giesecke & Devrient (G&D) is to supply DaimlerChrysler Bank with the first EMV cards for electronic payment to be issued in Germany.
The card combines the payment function defined to the standard of card organizations Europay, Mastercard and Visa (EMV) with customer loyalty programs.
The first 20,000 cards will be issued as from July 2002. In addition, DaimlerChrysler Bank has decided to purchase its entire chip-based
EMV card range through G&D. DaimlerChrysler Bank is the first German bank to consistently implement migration from the magnetic stripe
card to the chip card. This means the starting gun has gone off in Germany for implementation of the card organizations' guideline directing that all electronic payment cards worldwide are to be switched for security reasons from magstripe to chip by 2005.
"As a new supplier in the card sector, DaimlerChrysler Bank wants to offer its customers a future-oriented product", said Anton Lill,
Divisional Manager of Direct Banking Products at DaimlerChrysler Bank AG, commenting on the decision in favor of the intelligent debit/credit card. "With G&D as a competent partner for security solutions, we have succeeded in completing this project in a matter of six months", Lill continued.
DaimlerChrysler Bank will be introducing new investment products and the DaimlerChrysler Card in July 2002. Besides drivers of Chrysler, Jeep and smart, the new credit card will also be offered to customers who do not drive a DaimlerChrysler vehicle. The MercedesCard will still be available exclusively to Mercedes drivers as before. With an order volume of over 11 billion Euro and more than 400,000 customers, DaimlerChrysler Bank's core activities are in leasing, financing, motor insurance and fleet management for the vehicle brands of the DaimlerChrysler Group.
The benefits of EMV smart cards for customers of DaimlerChrysler Bank are obvious: losses through card fraud can be reduced significantly, because the data stored in the chip cannot be discovered without knowledge of the secret code. Encrypted data transfer provides additional security. Moreover, banks and retailers save transaction costs, since smart cards can be used offline up to certain limits, making it unnecessary to establish an online connection from the retailer's terminal to the bank's computer. "The multifunctional card for DaimlerChrysler Bank offers applications for customer loyalty besides the electronic payment function. Bonus points, for example, can be stored on the chip and read out directly at the points of sale", said Dieter Bulle, Divisional Manager of Payment Cards at Giesecke & Devrient.
To produce the EMV cards, G&D has added a data generation and key management system to its production process. "This system enables us to generate chip data from magstripe data", explained Bulle. "By integrating this system into our card manufacturing process, we are now more independent of external data suppliers. This was one of the main reasons why we were able to implement the project for our customer DaimlerChrysler Bank in such a short time", he continued.
In a further stage, these data can also be personalized with software developed by G&D.
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