Dutch bank SNS Bank has selected a smart card-based solution to secure access to its corporate facilities and IT resources. Fifty percent of the bank's workforce requires access to the institution's trading system, compelling the use of strong authentication and audit trail structure to trace individual online transactions as per national financial regulations.
In the developed world, we're all familiar with cashless systems, with most people well accustomed to making card payments. This contrasts markedly with the developing world, where many people are unbanked and cash is still strong. But all this is changing in parts of Africa and Asia with regulators, mobile operators and banks now pushing to bring more people into the economic system. Sarah Rotman, associate microfinance analyst, Consultative Group to Assist the Poor (CGAP), a policy and research centre at the World Bank, explains to CTT what is driving this change and discusses what the developed and developing worlds can learn from each other.
Despite concerted efforts to thwart fraud in recent years, new figures released by APACS, the UK payments association, show that card fraud losses totalled £609.9 million in 2008, up 14% on 2007. Industry commentators said the disappointing figures were ‘unsurprising’, but could be partially addressed by considering new initiatives and technology.
Chip designers and manufacturers play a key role in the smart cards industry. In the second of a two-part feature, we look at some of the work of several international players.
A new report into the Chinese smart card market showed that sales dipped in 2008, the first time the market experienced negative growth in the past five years.
Infineon Technologies has announced that it is the supplier of contactless security microcontrollers for India's electronic passport program. The rollout has started with the issuance of electronic passports to Indian diplomats and officials, and it is expected that in this first phase, up to thirty thousand electronic passports shall be issued.
Results from Australia's first trial of contactless mobile phone payments show a strong appetite for the technology, said Telstra, National Australia Bank and Visa.
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