[IMGCAP(1)]

Gemalto N.V., an Amsterdam-based digital-security company and smart card supplier, says today it could buy the banking business of Xiring, a France-based smart card reader company, by the end of the year. The company did not disclose terms of the deal. Gemalto says Xiring would continue to operate its non-banking business independently following the acquisition. Cardholders with an EMV card insert the card into a Xiring reader to generate a one-time passcode that is used to authenticate the user when logging onto an online banking site. "XIRING's EMV based strong authentication solutions for e-banking and e-commerce coupled with Gemalto's global presence will provide the ability to accelerate growth of this technology globally. This bolt-on acquisition extends Gemalto's expertise in e-banking, provides additional references and capabilities for our banking customers and provides secure banking technology to the end-user," a Gemalto spokesperson tells CardLine.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry