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The magnetic stripe payment card is extensively used all over the World; practically all the applications providing electronic payments, accept these types of cards.
During the recent years, we can observe how the credit card is evolving with new changes and services; they are being adapted to new standards and provide new applications and operation types, of common interest for both the financial entity and for the Cardholders on being able to have cards with more capacity as well as security.
In order to standardize the different debit/credit applications of diverse platforms, Europay, MasterCard and VISA have jointly defined a new Standard called EMV and provided a migration period from magnetic stripe to EMV smartcards with chips. Currently we are in this migration period and are required to adapt to it.
EMV smartcards offer improved security and anticopy protection and avoid a greater deal of frauds which are being faced by magnetic stripe based cards. Additionally, these cards are capable of providing additional applications such as Loyalty, Transport, University, E-Commerce, Home-Banking or Electronic-Purse.
CAP (Chip Authentication Programme) from MasterCard International and DPA (Dynamic Passcode Authentication) from VISA International are defined standards to provide remote or local 2 factor authentication (“something I have and something I know”) with EMV cards without requiring a connection to the card. The EMV payment cards could be issued with these additional applications so that the organization can provide new services to its cardholders with secure authentication and card is present.
CEPS (Common Electronic Purse Specification), pretends to establish a Standard global e-purse application, in order to substitute current e-purses which only work at national levels. This application can be loaded within the EMV payment cards, thus cards could be issued with EMV & CEPS.
Currently there are newer applications which can load digital certificates within the EMV cards.
RT, following its aim to provide the maximum support to its customer, has developed a series of modules in our financial solutions which along with emission, Net Acquirer and Net IPOS, enable the usage of smartcards in public key infrastructure (PKI), thus we can issue EMV cards with Digital Signature.
RT, continues developing new modules which complement the e-misión solution along with the evolution of EMV Standard or newer applications are defined based on the same. Currently, we can provide the following Standard or private applications:
• VIS 1.4 for VISA Cards
• M/Chip 4 for MasterCard
• CEPS (Common Electronic Purse Specification)
• CAP (Chip Authentication Programme of MasterCard International)
• DPA (Dynamic Passcode Authentication of VISA International)
• PKI (Public Key Infrastructure) with key generation. Both at card personalization or on being used
• Presence and Access Control
• Application Containers
• Transport
• Purse
• Telephone
About the Cryptographic Device (HSM - Hardware Security Module)
RT, as a solution builder, has tried to use as required hardware all the devices which comply with security requirements and certification required by the standards even being able to use the existing HSM (Hardware Security Module) already acquired by the organization if these comply with the required certificates and requirements, independently if the solution is installed on a centralized system (Host or Mainframe) or a standalone system. The hardware certified for FIPS 140-1 could be checked consulting the NIST’s website where all the certifications are listed classified by year, manufacturer and model.
About EMVCo
EMVCo LLC was formed in February 1999 by Europay International, MasterCard International and Visa International to manage, maintain and enhance the EMV™ Integrated Circuit Card Specifications for Payment Systems. With the acquisition of Europay by MasterCard in 2002 and JCB International joining the organisation in 2004, EMVCo is currently operated by JCB International, MasterCard International, and Visa International. EMVCo's primary role is to manage, maintain and enhance the EMV Integrated Circuit Card Specifications to ensure interoperability and acceptance of payment system integrated circuit cards on a worldwide basis. EMVCo is also responsible for a type approval process that defines test requirements and test cases that are used for terminal compliance testing. This testing ensures that a single terminal approval process is developed at a level that will allow cross payment system interoperability through compliance with the EMV specifications. Additional information can be found at EMVCO
About CEPSCO, LLC
In Octuber 1999 the Common Electronic Purse Specification (CEPS) were started to be defined, these were Developer by CEPSCO Española A.I.E., EURO Kartensysteme, Europay International and Visa Internacional. In July 2000 were joined by Groupement des Cartes Bancaires “CB” and Proton World. These specifications define the requirements in order for an organization to implement a electronic purse programme with a global interoperability. Maintaining compatibility with TMV specifications. Since its publication in 1999, CEPS has been joined by the majority of the e-purse schemes from all over the world., which lets us confirm that CEPS World be the e-purse global Standard. In order to obtain CEPS specifications or to obtain further information: CEPSCO
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