Payment cards are increasingly equipped with a chip for improved security compared to the traditional magnetic stripe. In some places, e.g. Europe, the chip is mandatory and the magnetic stripe is no longer used for making payments.
Traditionally, the payment is made by inserting the card into a reader and entering the PIN-code. An emerging application, contactless payment, allows for fast and simple transactions for low-value purchases. Payment cards with a dual-interface module can be used both as traditional payment cards by inserting them into a terminal or as contactless payment cards by swiping the cards at the terminal.
NedCard plays a major role in the rollout of chip cards for the payment and banking market by manufacturing modules in Europe and Asia. In 2011, payment cards accounted for approximately 16% of all smart cards produced throughout the world (source: Eurosmart).
Payment and banking markets require high security measures, which NedCard is able to provide already at this moment. Besides, the cards suffer severely both by use and by being kept in e.g. pockets.
NedCard offers various high-quality, cost-efficient packages for payment and banking card modules. These packages stand the industry standard reliability tests and are available with both gold and palladium surface finishing.
For additional information, see NedCard Contact modules Open Tool Specification and NedCard Dual interface modules Open Tool Specification