Ingenico Reacts Positively to Plans by the Card Association to Bring Smart Card technology to the U.S; Added Security Features to Reduce Card Fraud for Retailers and Cardholders
Atlanta, GA — August 16, 2011. Ingenico, the leading worldwide provider of payment devices and services, reacted positively to the recent announcement by VISA Inc. to accelerate the migration to EMV contact and contactless chip technology in the United States. Boasting the largest installed base of EMV-enabled terminals (over 15 million) globally, Ingenico sees the arrival of the smart card technology as the next logical step in preparing the U.S. payments ecosystem to benefit from the international interoperability and newly emerging non-traditional NFC-enabled mobile payments technology. The EMV and other next generation chip-based payment technologies will enhance the current payment infrastructure in the U.S. by positioning it to accept and handle chip transactions, and securing payments through the use of dynamic card authentication. The added security features that promise to reduce the impact of card-based fraud will benefit both retailers and cardholders.
For the past 12 months Ingenico has been anticipating and preparing for the migration of EMV card technology in the U.S. and serves on many committees to bolster broader awareness of this technology. Ingenico is the only terminal manufacturer represented on the EMVCo. Board of Advisors, the governing body of the EMV Integrated Circuit Card Specifications for chip-based payment cards and acceptance devices, and is a member of the Leader Council of the Smart Card Alliance, a non-profit association driving the understanding and adoption of smart card technology in the U.S.
Driven by its strategic vision based upon innovation and security, Ingenico has successfully helped shape the migration and development of chip-based smart card payment infrastructure for its customers around the world. Today, the company continues on its path of innovation by responding to rapidly changing customer needs with high-performing products and innovative solutions needed to support the new forms of payment including mobile, contactless and NFC.