Press release from Business Wire India
Source: Infineon Technologies India Pvt. Ltd.
Thursday, January 31, 2013 05:19 PM IST (11:49 AM GMT)
Editors: General: Consumer interest, People; Business: Banking & financial services, Business services, Energy companies, Information technology; Technology
Infineon’s True 16-bit Dual Interface Security Controllers Fully Certified by Bank Card Test Center of China; Volume Deliveries with Short Lead Times will Further Boost Migration to Chip-Based Banking Cards in China
New Delhi, Delhi, India, Thursday, January 31, 2013 — (Business Wire India) — Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) today announced that its 16-bit SLE 77 and SLE 78 Dual Interface security controllers for payment applications have been fully certified by the Bank Card Test Center (BCTC) of China. The 16-bit SLE 7x product family targets secure bank cards with contact-based as well as contactless functionalities. Volume quantities can be shipped within 4 weeks and will further boost the ongoing migration from magnetic to smart cards in China.
Key players in China payment market have already qualified solutions based on the 16-bit SLE 7x Dual Interface security controllers and are delivering into the Chinese banking market. More than ten local banks in China have qualified and started to issue dual interface banking cards based on the SLE7x security controllers.
“We have a unique experience as market and technology leader for payment applications”, says Goh Say Yeow, Vice President and Head of Chip Card & Security Asia Pacific at Infineon Technologies Asia Pacific. “The SLE 77 and SLE 78 are highly reliable security ICs and provide best-in-class contactless functionality which is crucial for the successful rollout of smart card based banking applications in India.”
SLE 7x security controllers with outstanding qPBOC transaction time
The 16-bit SLE 7x security controllers from Infineon have demonstrated an outstanding performance in contactless applications. Their qPBOC transaction time for contactless applications is proven in the field to be 40 percent faster than conventional 8-bit products. Reliable and high processing speed is a prerequisite to increase convenience and hence acceptance of new contactless payment or ticketing applications by the end user. The SLE 7x security controllers also fulfill today’s highest security standards. They are certified up to EAL 6+ (high) according to the international “Common Criteria” standard and have EMVCo approvals.
Banks and financial institutions are seizing the current migration process as an opportunity to provide additional services including contact-based or contactless fidelity programs, public transport ticketing and public access solutions to their customers. As a consequence, card manufacturers face increasing demand for more flexible and multifunctional smart cards. By taking advantage of the flexible and fast mask technology which is incorporated in every product of the SLE 7x product family from Infineon, they will be able to optimize their logistics by reducing their planning expenses, inventory costs and market risks.
According to RBI report there are over 18 million Credit cards & 302 million debit cards ( RBI Bank-wise ATM/POS/Card Statistics- Sept 2012). The recent initiatives and the interest shown by Indian banks on chip based EMV technology for banking cards, is expected to open up the market for large scale adoption.
Security for the connected world
With its core competences in the areas of security, contactless communication and integrated microcontroller solutions (Embedded Control), Infineon offers a comprehensive portfolio of semiconductor security products for many chip card and security applications. With this expertise, Infineon is improving security in our increasingly connected world, for example for mobile payments, for system security and secure official electronic documents. Infineon has been developing innovative solutions in the area of chip-based security for over 25 years and has been a global market leader for the last 15 years.
Further information on chip card and security solutions from Infineon is available at www.infineon.com/chip-card-and-security.
Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and system solutions addressing three central challenges to modern society: energy efficiency, mobility, and security. In the 2012 fiscal year (ending September 30), the Company reported sales of Euro 3.9 billion with close to 26,700 employees worldwide. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY).
Further information is available at www.infineon.com.
This news release is available online at www.infineon.com/press.
Nidhi Srivastava, Infineon Technologies India Pvt. Ltd., +91 9873404809, [email protected].com
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