Bank SinoPac in Taiwan adopts Morpho's NFC solutions and services

Morpho (Safran), a supplier of Near Field Communication (NFC) services, products and platforms, has been selected to provide an innovative NFC service to Bank SinoPac in Taiwan.

VIP customers of Bank SinoPac will be first in line to be offered a prepaid gift card and credit card embedded in a Micro SD card for mobile phones. They can use the gift card and credit card for payment transactions by simply placing the handset near a contactless terminal that is compliant with the EMVCo standard, which manages the specifications for chip-based payment cards and acceptance devices. The card can be accessed via a user interface developed by Morpho with several unique functions, such as checking the remaining value, top-up of the card via automated teller machine and transaction history view.

Morpho enables this innovative project with an end-to-end solution: it is responsible for the NFC-enabled Micro SD card, the user interface and the integration with Bank SinoPac's overall services concept. This launch enriches the Taiwanese NFC ecosystem by enabling Bank SinoPac to provide end-to-end consumer services solely with Morpho's NFC solution. The solution currently runs on Samsung Galaxy S3 and Samsung Galaxy S4.

Jamie Cheng, Senior Vice President at SinoPac Bank, said: “According to the international research firm Gartner, mobile payment will have 35% annual growth till 2017. Feedback shows that more than 62% of Bank SinoPac credit card cardholders are willing to have mobile payment services. More than 93% of the respondents also hope to consolidate credit cards and mobile payment loyalty programs into one single program. In this launch, the maximum value of the stored value in the phone is up to NTD 10,000. If the phone is lost, the consumer can get a refund for the balance of the store valued as soon as the consumer makes a report to the bank. This launch marks the beginning of a series of market-leading mobile payment solutions that Bank SinoPac will be launching. Bank SinoPac will continue to provide innovative mobile payment products and solutions to consumers to enable a mobile payment lifestyle.”