Building on industry initiatives to ease the user experience for chip cards and increase use of contactless technology, Oberthur Technologies has developed a dual interface card in the U.S. market that combines new Visa and MasterCard specs and 'tap and go.'
The Cosmo Fly cards are fully compliant for U.S. dual debit and prepaid migration to EMV, and are designed to make it easier for consumers to do faster EMV chip transactions or contactless payments at the retail point of sale or on transit lines with the same card, said the Chantilly, Va.-based Oberthur Technologies, which operates in 169 countries.
Oberthur is including the MasterCard M/Chip Advance specs for faster processing of EMV transactions. MasterCard introduced M/Chip Fast in late April, as all of the major card brands began introducing terminal applications for faster EMV processing. Cosmo Fly also conforms to Visa's new 12-year EMV card lifecycle policy.
Issuers will find "any consumer that likes the convenience of speed and/or lives in a city that has embraced contactless transit" a likely target for the dual-interface card, said Philip Andreae, vice president at Oberthur Technologies.
Credit unions, community, regional and national banks have all deployed dual-interface cards in small numbers in the past, Andreae said. ""We are seeing increased interest and expect several issuers to announce their plans to deploy dual-interface cards," he added.
Oberthur manufactures all of its cards at its ISO 9001 certified manufacturing facility in Pennsylvania, saying it has produced more than a quarter billion chip cards.
Among its various other products and services, Oberthur Technologies has been active in security initiatives, most notably as a member of FIDO Alliance, seeking to eliminate static passwords in e-commerce for more secure biometric and layered defenses.