The hacking scandal in which Target lost the personal credentials of 70 million individuals made front page news around the world at the end of 2013. Unusually in the Western world, the United States still favors magnetic strip cards, which are easier to hack than the EMV standard widely adopted around the world.
Containing an embedded security element – the chip – EMV cards offer a high-level of security for personal data. They are the safest way of protecting payments, with presentation of the card (i.e. when consumers insert their card into a payment terminal) followed by validation using a PIN code or signature.
OT has an extensive track record when it comes to EMV technology. In the past 20 years, OT has enabled hundreds of banks to migrate to this standard, simply, quickly and in complete safety.
With the liability shift effective in October 2015, the transition to the EMV standard is under way in the United States, requiring the annual production of millions of cards. OT is offering banks and financial institutions its unique experience and production capacity and has established itself as a leader in EMV on American soil.
- Early mover in US EMV market
- 1 secure manufacturing hub
- 2 secure service centers (one on the East coast, one on the West coast)
- EMV-In-A-Box solution to easily and simply manage the transition and offer a high level of personalization
- Clients include 7 of the top 10 US card issuers
- 30% market share