FIME, which offers transaction testing services, is set to launch its first EMV Level 1 contactless testing laboratory and certification services in India.
The services will provide support to local payment terminal manufacturers for their EMV projects.
Assistance will be offered in designing, developing, deploying and validating contactless products.
The development is said to reduce time to market and costs for the manufacturers as well as support India’s digital transformation requirements.
FIME country manager of India and South Asia Angaj Bhandari said: “Government initiatives such as the RuPay scheme and launch of the National Common Mobility Card (NCMC) are really driving demand for EMV products across payments and transport.
“FIME has supported Indian innovation for over 15 years. Combined with our local expertise, these new services will be invaluable in helping vendors quickly and cost-effectively get products to market locally and internationally.”
RuPay, a domestic card scheme launched by National Payments Corporation of India, also welcomed the development.
RuPay head Nalin Bansal said: “As terminal manufacturers work to meet rising demand for EMV-compliant products, locally-available support from expert partners like FIME is fundamental to promoting low cost devices and cut down certification cost and timelines considerably.”
Last month, the RuPay card scheme was launched in the UAE. It is the first West Asian nation and the third country overall to accept the Indian electronic payment system.