PURCHASE, N.Y. - MasterCard International has expanded its chip vendor services program to include a group that will develop digital ID-based smart card applications for mobile and electronic commerce transactions.
The new group will provide MasterCard's member financial institutions with a preapproved selection of providers that offer turnkey solutions for integrated smart card and electronic commerce programs. Vendors chosen for the group include SecureNet Ltd. and Gemplus.
"By issuing a multiapplication smart card that includes a digital ID, as well as financial services applications, banks will be able to position themselves at the forefront of technological innovation," said Art Kranzley, senior vice president of electronic commerce and emerging technologies at MasterCard.
"Structured properly, multiapplication cards give cardholders a secure, portable way of identifying themselves while also enabling them to initiate payment with their credit or debit cards, or take advantage of other applications, such as loyalty programs," he said.