HSBC is to pilot Europe's first MasterCard chip card using the Multos multiple application operating system technological platform.
The pilot is designed to ensure that the new card can function in any EMV (Europay/MasterCard/Visa) compliant chip terminal. The EMV chip standard has been developed to enable global interoperability between all complying cards and terminals.
For the pilot, HSBC will use Multos cards manufactured by Oberthur Card Systems. The Multos-based MasterCard card, which carries the M/Chip Select credit/debit application, will make it possible for HSBC to add or adapt value-added services (such as an electronic purse and loyalty programmes) in the future without having to issue a new card.
The HSBC initiative comes as UK banks begin to migrate 84 million UK debit and credit cards to chip. Ian Ogilvie, head of electronic services at HSBC Bank says the bank already has three million chip cards in circulation.
“Smart cards will change the face of the payments industry," he states. "That is why it is so important for HSBC to be part of this pilot - we want to ensure that our customers are among the first to benefit from the more flexible range of products and services these cards will bring.”