EMV: Gemalto Deploying First Multi-application EMV Card in Columbia
- Gemalto has launched one of the first EMV multi-application cards in Columbia for country’s major Compensation Fund (family allowances), Colsubsidio.
- This multi-application card provides its cardholders with a large range of services: e-purse, access to recreational parks, to convention centres as well as to sports rooms. In addition, its contactless feature allows the user to access Bogota’s transportation network more conveniently (ease of use, time saving).
- Gemalto also provides Colsubsidio with a card customisation software solution and technical assistance during the launching period.
- Gemalto has grown into a leading player in South America since this region migrated to EMV in the years 2000.
- Globally, South America is a mature market in terms of EMV card acceptance. Brazil for instance, registered 341 million EMV cards in circulation in 2008 (compared to 486 million in 2009 (+42.5%)) or two cards per individual on average. This EMV migration could even nearly touch 100% by 2013.
- In this country, fraud figures partly account for this massive EMV deployment: fraud rates subsequently decreased from 0.15% to 0.06% of the transactions (Source: Sheena Rossiter).