Keycorp Ltd has announced it has received further orders for its MULTOS-based smart cards from COSMOSBANK, Taiwan.
Keycorp began dealing with the Taiwan bank in May last year and this recent order brings the project total to over half a million cards – at a value of over A$3.5 million.
The applications on the card include MasterCard’s M/Chip™ credit application, and soon a Mondex purse. Other applications, such as loyalty, digital certificate or e ticketing, can be loaded in the future.
“Keycorp’s ongoing work with COSMOSBANK in Taiwan underscores the shift that is occurring in the card market from magnetic stripe to smart card – especially in Asia and other areas with a high risk of credit card fraud” said Bruce Thompson, CEO of Keycorp.
“Our strategy is to pursue key emerging markets, and we have succeeded in establishing ourselves as the leading supplier of chip cards in Asia’s banking environment,” said Mr Thompson.
