German Bank Awards Payment Card Contract To G&D

Published November 13, 2008, 2:00 a.m. EST

|

Updated November 13, 2008, 1:00 a.m. EST

1 Min Read

IMGCAP(1)]

Processing Content

Commerzbank has selected Germany-based card vendor Giesecke & Devrient as its sole supplier of credit and debit cards for the next three years, the bank announced Wednesday. The bank believes it will require several million cards for the duration of the contract. Additional contract details were not available, and G&D did not respond to a CardLine Global request for comment. The debit cards will adhere to the latest version of the Secure Chip Card Operating System, SECCOS 6.1, which is a mandate provided by the German Central Banking Committee. The system enables EMV debit cards to store multiple applications. The chips on the cards can be used for electronic signatures and to generate transaction numbers for home banking and online shopping, among other functions.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

OCC

Stablecoin yield debate central in GENIUS rule comments

Public comments on the Office of the Comptroller of the Currency's GENIUS Act implementing regulations highlighted the rift between banks and crypto firms over the permissibility of yield on stablecoin holdings, an issue that has stalled crypto market structure legislation for months.

By Ebrima Santos Sanneh
Reporter

3h ago
SEC

SEC backs Trump's idea of allowing semi-annual earnings reports

The proposal is part of what SEC Chairman Paul Atkins calls his "Make IPOs Great Again" agenda.

By Kevin Wack
Banking Editor

May 5
M&A

Boston-area mutual bank agrees to buy New Hampshire lender

Opportunity favors the prepared, and Cambridge Savings Bank had been saving for years to buy a nearby rival. Now, as the mutual bank announces plans to acquire First Seacoast Bank, it says it's found "the right deal at the right time."

By Nathan Place
National Reporter

May 5
Inflation

Fed's Barr says gas prices could 'bleed' into inflation

Federal Reserve Gov. Michael Barr said Tuesday that the U.S. energy sector is more insulated from shocks than Europe's, particularly in natural gas prices. However, he warned that the war is pushing up gasoline prices, which could spill over into other parts of the economy.

By Maria Volkova
Reporter

May 5
Digital wallets

How banks reach for the 'top of the wallet'

If a card is immediately not easy and safe to use in an external app, consumers will quickly turn to another card, executives from Regions Bank, Pinnacle Financial Partners and Barclays warned American Banker's Payments Forum.

By John Adams
Executive Editor, Payments

May 5
Earnings

PayPal reports first earnings under new CEO

The payments company said payment volume increased, but net income decreased compared to 2025.

By Melinda Huspen
Tech Reporter

May 5

Load More