German smart card manufacturer Giesecke & Devrient (G&D) has won a deal to supply EMV smart cards and software to Italian online bank Fineco.
Following a pilot phase, the bank is now replacing all its existing magnetic strip-based debit and credit cards with the new chip-based EMV cards.
Fineco's 300,000 credit and debit card clients will see their magnetic stripe cards swapped over to EMV during the next several months.
Under terms of the agreement G&D will provide Fineco with initialisation, card design, production and fulfilment. G&D's Italian partner Metalplex will perform personalisation services while FirstData will generate data and manage keys.
The new cards will run on G&D's Star DC I card operating system which the vendor says complies with the Italian Banking Association's requirements for EMV debit and credit card specifications in the country.
Financial terms of the deal were not disclosed.