Oberthur Technologies and Dyetron S.A, a provider of smart card-based technology solutions for the transportation, communications, government and financial sectors, announced a partnership to provide EMV cards in Colombia.
Colombia’s Superintendencia Financiera has imposed a January 1, 2010 deadline for issuers and merchants to migrate to EMV payment because of rising fraud rates from standard magnetic stripe debit cards. After this deadline, the liability over fraudulent transaction rests solely on the party that hasn’t upgraded to EMV – whether it be the issuer or the merchant.
Dyetron will utilize Oberthur’s common personalization system and will be integrated in the worldwide Oberthur network of over 30 services centers. This will enable local banks to migrate seamlessly to EMV and international banks to easily deploy their EMV strategy in Colombia.