Financial services provider National bank of Canada has announced that it intends to pilot a smart card project in St Jerome in summer 2008.
The scheme will allow the bank to test the compatibility of its ATMs and systems with this new technology in a controlled environment while ensuring the reliability of various other elements involved in payment and transaction processes.
Smart card technology is a powerful tool that will open up a world of opportunities. This project is evidence of the bank’s commitment to developing a new line of innovative, user-friendly and secure products for clients, stated Paolo Pizzuto, vice president of electronic payment solutions.
In line with the rest of the industry, which is gradually migrating towards smart card technology, National Bank plans to start introducing smart cards in 2008 and has already announced its participation in a chip technology trial in Kitchener-Waterloo in spring 2008.
These various pilot projects will ensure a smooth transition to this advanced technology, adds Mr Pizzuto.
A smart card is a credit or debit card with a built-in microchip containing encrypted data. In addition to ensuring greater protection and security, this technology will provide a platform for new product and service offerings in the future.