Oberthur Technologies (OT), a French provider of embedded security software products and services, has rolled out its new multi-payment dual interface card which will meet all new Visa and MasterCard specifications for the US market.
COSMO Fly v5.8 has been developed on OT’s Global Platform and Java-based operating system. It is said to be the first dual interface that includes the latest features from both Visa and MasterCard.
In addition to being the first MasterCard M/Chip Advance v1.2 certified product with multi-application requirements, the product also conforms to the VISA 2.8.1g certification which fulfills Visa’s new 12-year EMV Card Lifecycle Policy.
These specific applets make this product fully compliant for US dual debit and prepaid migration, according to the company.
Built on OT’s COSMO family of products, the COSMO Fly v5.8 incorporates the latest security features improving its operating system to enable OT’s customers to securely launch their products in the field.
Anticipating the convergence between payment and transit markets, the company enhanced non-payment functions including MIFARE and Cipurse features, which will be used in automated fare collection transit systems globally. Additionally, the new applets also allow the company’s customers to address open payment in transit.
OT managing director of the Financial Services Institutions business Eric Duforest said: "Being at the forefront of innovation and security is the DNA of OT.
"We bring our customers innovative cards with new features, leveraging dual interface technology to widen usage for cardholders, keeping in mind that competitiveness and security are the main drivers for our customers’ roadmaps."
MasterCard senior vice president of Product Delivery – EMV Chiro Aikat said: "Built on the contactless or ‘tap-and-go’ technology, EMV Dual interface technology aims at speeding up shoppers’ checkout times."