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| Subject: Visa Certify1stContactless Payment CardSmart Breakthrough add value to a transit purse on the chip | |
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Author: anonymous |
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Date Posted: 15:55:49 12/04/02 Wed In reply to: anonymous 's message, "Re: Proton technology is licensed into EcardNeed to work with ERG transit/Octupus.Hong Kong." on 15:12:55 12/04/02 Wed http://www.cardtechnology.com/cgi-bin/readstory.pl?story=20021204CTDN228.xml ------------------------------------------------------------ Visa Certifying First Contactless Payment Card ------------------------------------------------------------ Visa International is in the process of certifying a smart card chip that can run Visa payment applications through a contactless interface, allowing the cardholder to pay by waving a card near a reader. This will be the first chip certified by Visa to run debit and credit applications in contactless mode, says Denny Jensen, senior vice president of VisaSmart chip implementations. Banks traditionally have demanded the security of conventional contact cards that must be inserted into terminals. Jensen says one of the first uses of such a contactless chip card is likely to be in South Korea, where the two leading mobile phone operators, SKT and Korea Telecom Freetel, both plan to allow customers to pay at retail shops with a wave of their smart card-carrying mobile phones. U.S. issuers might target contactless cards at fast-food restaurants, where transaction speed and convenience are key issues, Jensen says. He says the JCOP 30 chip from Netherlands-based Philips Semiconductors should be approved by January. Cards carrying the chip, which operates in both contact and contactless modes, will be priced at a maximum of $3.90, regardless of quantity, under Visa’s Smart Breakthrough program aimed at keeping down smart card prices for Visa issuers. ------------------------------------------------------------ The JCOP 30 chip uses the Java Card operating software favored by Visa. MasterCard International promotes the Multos operating system for multiapplication cards, and a Multos card, too, will soon be available with contactless functionality. Australia-based Keycorp Ltd., which develops software based on the Multos specification, is taking orders for its first Multos cards that can access a single chip through both a contact and contactless interface. This would allow, for instance, a cardholder to use their MasterCard credit application to add value to a transit purse on the chip, then use the contactless interface to pay a transit fare, says Tim Fletcher, who heads Keycorp’s smart card technologies business unit. However, unlike with the card being tested by Visa, the MasterCard credit or debit applications are not yet available through a contactless interface. Fletcher says there is no demand for that feature, and few payment terminals that could accept a contactless transaction. Fletcher says the new dual-interface card from Keycorp will be available in March, priced at under US$5. ----------------------------------------------------------- ( 2002-12-04 ) [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: Visa breakthrough only made possible by Pork Geoffos CAT-Truth | anonymous | 16:02:05 12/04/02 Wed |
| Re:Good authority---Dirty Laundy---ERG December of 2002. | anonymous | 16:12:53 12/04/02 Wed |
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