Gemalto, a provider in digital security, announced it was commissioned to carry out the migration to microprocessor credit cards (Europay, MasterCard and VISA, or EMV) for the Royal Bank of Scotland (RBS) across three markets in Asia: Indonesia, Taiwan and India.
The first project commenced in October 2008 in Indonesia, with projects in Taiwan and India to follow, and involved the conversion of the bank's traditional magnetic stripe cards to EMV cards. Gemalto provides RBS with a complete range of products and services including personalization and project management. The smooth project implementation resulted in a record turnaround time of three months, instead of a typical industry average in Asia of five to six months, translating into tangible operational savings for RBS.
Fraud reduction is the major driving force behind Asia's commitment to EMV migration. According to the Indonesian Credit Card Association, credit card fraud in the country amounted to US$3.07 million in 2007. Gemalto completed the migration to EMV cards for three in four banks in Indonesia, well ahead of the 2010 migration mandate set by the Bank of Indonesia.
Dessy Masri, Head of Consumer Finance, RBS Indonesia, said, “EMV migration is important to the card business as it is not only a requirement from the Central Bank but also it has enhanced security against fraud. We are extremely pleased that our re-carding process in Indonesia took a much shorter time than expected, so we are able to start the roll-out of the cards to our customers sooner, giving them more convenience and security. And this was only possible with the service of Gemalto as the industry leader in EMV migration solutions and the company's extensive experience in Indonesia, as well as the region”.
Tan Teck Lee, President, Gemalto Asia, said, “We are extremely pleased to be able to work with RBS who have placed their trust in us to manage the migration project across their key markets. Our experience in migration projects all over the world allowed us to leverage our unique EMV expertise and geographical presence to lead this project successfully”
Banks can benefit from Gemalto's expertise in providing customized, encompassing end-to-end solutions that include project management, card differentiation (such as contactless payment, packaging, instant issuance for instance) and personalization services to help maximize customer retention.