Barnes International helps EMV Card Manufacturers and Issuers in the Philippines to speed up EMV Card Development and Certification.
Petersfield, UK, August 12th 2015 – Barnes International, a global EMV smart card test tool leader, is pleased to announce they are working with local and international EMV card manufacturers and personalisation bureaus to support banks in the Philippines as they move from magnetic stripe to EMV smart cards.
The increased regional demand for Barnes EMV card personalisation test tools and professional services is the result of a mandate set by the Bangko Sentral ng Pilipinas (BSP) in August 2013 stating that all banks and financial institutions in the Philippines should introduce more secure EMV chip bank cards by January 2017. The rationale for this is to reduce the increasing levels of ATM fraud in the Philippines, with the BSP reporting 1,272 incidents of ATM fraud in 2013 involving about P220 million, which was well above the recorded P175 million lost to cards being skimmed and cloned in 2012.
The move to EMV chip technology introduces sophisticated security measures to protect the card data, and is technology adopted throughout Europe and increasingly across the Middle East, Africa and Asia, with the US moving to EMV later this year. EMV migration involves software and hardware changes to the BancNet ATM network, POS terminals and the card itself. In order to issue EMV chip cards, the bank or financial institution must be certified by their chosen Payment Scheme (Visa, MasterCard or American Express, for example), which involves validating card personalisation data and that is where Barnes’ CPT 3000v3 is invaluable.
Barnes EMV chip test tools and magnetic stripe analysers are used to quality check the personalisation data on the chip, magnetic stripe and card face to ensure contact and contactless debit and credit cards meet Payment Scheme requirements. Brian Summerhayes, Manager Director at Barnes International states “The major benefit of our card personalisation test tools is that they enable Card Issuers and their partners to check the quality of their card data prior to the formal certification process. Our aim is to help them achieve first-time certification and save them additional costs and time delays in card application development and personalization certification processes. We work closely with our customers as they make this significant operational change with expert tools, training and support to help them to confidently bring new chip-based payment products to market faster.”
Barnes will be exhibiting at Cards & Payments Philippines, taking place September 2 – 3 at the SMX Convention Centre, Manila. The exhibition complements the conference, which features a dedicated Cards & Payments track, and is expected to attract over 1,000 attendees.
Mr Summerhayes adds: “We encourage local banks and financial institutions to register for a free Expo Pass at the very least to visit Barnes at Stand 4. We would welcome the opportunity to discuss their EMV migration plans, and show them how they can quickly and easily achieve first-time EMV certification.”
To arrange a meeting with Barnes at Cards & Payments Philippines, please email firstname.lastname@example.org
To register for a Free Expo Pass or full conference pass, please visit Cards & Payments Philippines.