Visa has teamed up with Taiwan's National Credit Card Centre (NCCC) to certify and process Visa smart cards through VisaNet.This latest development makes Taiwan the most advanced market in Asia Pacific for smart card implementation.
Visa International Asia Pacific and Taiwan's National Credit Card Centre (NCCC) announced yesterday that NCCC has achieved certification for processing Visa smart cards through VisaNet, the largest consumer financial transaction processing system in the world. With this development, Taiwan becomes the most advanced market in Asia-Pacific with this smart card infrastructure. NCCC is the second institution to receive accreditation. This accreditation will enable its members to migrate from magnetic strips to chips.
Peter Maher, Head of Chip Implementation for Visa Asia Pacific, recently told CMP that "Chip [cards] have a proven long-term benefit in fighting fraud, which has been infiltrating Asia at an alarming rate. They can also generate additional advantages through value-added programmes or differentiation ¡V allowing marketing to a 'segment of one',¡¨said
Maher added that NCCC will help cement Taiwan's progress toward a market-wide migration to chip cards over the next 18 months, and noted that Taiwan recently passed a resolution supporting migration to EMV chip-based payment cards."
