VeriFone Systems and Gemalto are to further develop their broad partnership. First announced in October 2010, the partnership entails co-operative efforts in EMV chip card solutions, the handover of Gemalto’s point-of-sale (POS) solutions business to VeriFone, and Gemalto’s appointment as the preferred supplier of machine-to-machine (M2M) wireless modules and related solutions for VeriFone payment systems.
The companies have discussed initial plans for joint introduction of EMV Chip and PIN solutions for the US market. As US banks, retailers and card networks increasingly acknowledge Chip card and contactless technologies as a core component of a comprehensive security infrastructure, the companies intend to introduce EMV smart card solutions that provide a superior cardholder experience and complete data protection at the POS. Combining the two company’s expertise at both issuing and accepting smart cards will provide a ready infrastructure to advance the US market towards a much more secure and convenient payment method.
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