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Infineon contactless chips for MasterCard

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DQC News Bureau
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Infineon Technologies would provide contactless chips for select MasterCard

Global payment schemes, which are being introduced in 13 countries worldwide,

including Taiwan, Malaysia, Australia and the US. Designed to make payment

transactions with more convenient magnetic-stripe cards or conventional

chip-based cards, the future debit and credit cards will contain a chip

featuring a contactless interface and state-of-the-art cryptographic

capabi­lities, an Infineon statement said.

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Future debit and credit

cards will contain a chip featuring a contactless interface and

state-of-the-art cryptographic capabi­lities

The company said that at least 400 million chip-based payment cards were

issued worldwide in 2006, with MasterCard and Visa programs alone accounting for

about 17 million contactless chip cards.

According to market research company Frost and Sullivan, the conventional

contactless payment smart card market is expected to see a compound annual

growth rate of 63 percent over the next five years. Dr Helmut Gassel, VP and

GM-Chip Card and Security Ics, Infineon Technologies, said, “Our combined

expertise in security and contactless technology enables us to be the volume

supplier not only in payment, but also in other major contactless markets such

as e-passport deployments in the US and other countries or public transport

projects such as 'T-Money' in Korea.”

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