Morpho’s NFC solutions and services are selected by Bank SinoPac for a pilot in Taïwan
Taïwan, October 8, 2013
Morpho (Safran), a leading supplier of Near Field Communication (NFC) services, products and platforms, has been selected to provide an innovative NFC service to Bank SinoPac in Taïwan on August 19, 2013.
VIP customers of Bank SinoPac will be first in line to be offered a prepaid gift card and credit card embedded in a Micro SD card for mobile phones. They can use the gift card and credit card for payment transactions by simply placing the handset near a contactless terminal that is compliant with the EMVCo standard, which manages the specifications for chip-based payment cards and acceptance devices. The card can be accessed via a user interface developed by Morpho with several unique functions, such as checking the remaining value, top-up of the card via automated teller machine and transaction history view.
Morpho enables this innovative project with an end-to-end solution: it is responsible for the NFC-enabled Micro SD card, the user interface and the integration with Bank SinoPac's overall services concept. This launch enriches the Taiwanese NFC ecosystem by enabling Bank SinoPac to provide end-to-end consumer services solely with Morpho's NFC solution. The solution currently runs on Samsung Galaxy S3 and Samsung Galaxy S4.
Jamie Cheng, Senior Vice President at SinoPac Bank, said: "According to the international research firm Gartner, mobile payment will have 35% annual growth till 2017. Feedback shows that more than 62% of Bank SinoPac credit card cardholders are willing to have mobile payment services. More than 93% of the respondents also hope to consolidate credit cards and mobile payment loyalty programs into one single program. In this launch, the maximum value of the stored value in the phone is up to NTD 10,000. If the phone is lost, the consumer can get a refund for the balance of the store valued as soon as the consumer makes a report to the bank. This launch marks the beginning of a series of market-leading mobile payment solutions that Bank SinoPac will be launching. Bank SinoPac will continue to provide innovative mobile payment products and solutions to consumers to enable a mobile payment lifestyle."
"This project was completed in less than three months from approval to delivery, reasonable. It clearly demonstrates that with a good plan and a collaborative working relationship, any bank can launch NFC services without 'tear'," added Thian Yee Chua, Senior Vice President Convergence Services at Morpho, e-Documents Division. "Thanks to our experience and proven processes, Morpho can enable more and more card issuers to offer NFC services in a short time-to-market."
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About Bank SinoPac
Bank SinoPac is a wholly-owned subsidiary of SinoPac Holdings, and was formed in a merger between the former Bank SinoPac under SinoPac Holdings and the International Bank of Taipei on November 13, 2006. Bank SinoPac provides the best financial services and innovative product line to customers through its intensive branch networks. With the pillars of New Currency, New Market, and New Channel, the Bank can realize its vision of building a company that embraces" content shareholder, proud employees, happy customer and public respect".
At the end of 2012, Bank SinoPac had over 4,000 employees, NT$53.9 billion in paid-in capital and NT$1,242.8 billion of assets. In terms of its corporate structure, the bank comprises 18 divisions and one office. Alongside 129 domestic branches (including Banking Division), there are such overseas outlets as the Hong Kong Branch, Kowloon Branch, Macau Branch, Los Angeles Branch, representative office in Vietnam, as well as a representative office in Nanjing.
Morpho (Safran), is one of the world's leading suppliers of identification, detection and e-document solutions. Morpho is specialized in personal rights and flow management applications, in particular based on biometrics, a sector in which it is the world leader, as well as secure terminals and smart cards. Morpho's integrated systems and equipment are deployed worldwide and contribute to the safety and security of transportation, data, people and countries.
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