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Gemplus Delivers Indonesia's First Advanced Security EMV Credit Cards to Bank Buana
Luxemburg and Indonesia (ots/PRNewswire) - Gemplus International S.A. (Euronext: LU0121706294 - GEM and NASDAQ: GEMP), a world leading provider of secure card-based solutions, today announced it has delivered Indonesia's first advanced security EMV Dynamic Data Authentication (DDA) cards to Bank Buana, one of Indonesian leading commercial banks. The implementation of the DDA EMV cards is in line with Bank Indonesia's recommendation to banks to migrate to chip based EMV cards in 2006. Bank Buana plans to migrate its entire credit card base to the DDA EMV cards from this year.
"Gemplus' experience in EMV technology and deep understanding of Bank Buana's unique needs were key considerations in our decision to work with them," said Mr Aw Tee Woo, Managing Director, Bank Buana. "The banking industry is highly competitive and we are always seeking innovative and reliable partners who can provide us with the right tools to help us stay ahead of the industry in a cost effective manner. In addition to being a secure purchasing medium that supports both on- and off-line transactions, the DDA cards from Gemplus will also enable us to provide value-added services such as loyalty programs to our customers in future."
Dynamic Data Authentication credit cards provide the most advanced security available for securing payment transactions today. They offer a sophisticated authentication scheme whereby unique transaction signatures are generated by the cryptographic processor on the card for each individual transaction. As each signature is computed based on random data provided by the point-of-sale terminal, this makes them difficult to duplicate, thus offering a significantly higher level of security than the more commonly used Static Data Authentication (SDA) cards which use a single static card signature for every transaction made with the card. DDA cards also offer off-line transaction processing capabilities, which will help Bank Buana reduce its network communications costs.
"As the leading provider of secure platforms for banking transaction in South East Asia, Gemplus is delighted to support Bank Buana with our products and expertise. With both R & D and manufacturing in the region, Gemplus is ideally placed to support EMV migration in Indonesia," commented Dr. Martin McCourt, President for Gemplus Asia Pacific.
About Bank Buana
Bank Buana was established in 1956 and has evolved into a respectable commercial bank that caters primarily to trade finance and lending activities to small and medium-sized trading businesses. Since United Overseas Bank acquired a majority stake in 2005, Bank Buana has begun expanding its share in consumer banking by leveraging on its wide network and extensive experience in commercial banking.
Bank Buana offers a variety of products and services to meet consumer banking customers' needs, including savings accounts, time deposits, housing loans, car loans and credit cards.
Bank Buana has assets of Rp 15.9 trillion and achieved a pre-tax profit of Rp 456 billion in 2005.
Gemplus International S.A. (Euronext: LU0121706294 - GEM and NASDAQ: GEMP) is a world leading player in the secure card industry in both revenue and total shipments (source: Gartner-Dataquest 2005, Frost & Sullivan, Datamonitor). It has sold over 5.5 billion smart cards.
Gemplus delivers a wide range of portable, personalized solutions in areas including Identity, Mobile Telecommunications, Public Telephony, Banking, Retail, Transport, Healthcare, WLAN, Pay-TV, e-government, and access control.
Gemplus' revenue in 2005 was 939 million Euros.
For more information:
Gemplus Technologies Asia
HO Sin Huay
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ots Originaltext: Gemplus
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