Chinese banking industry is quadrupling with Chip-Based payment cards solutions. Now, Infineon Technologies has announced that it has received the “China UnionPay Security Product Certification” for its SLE77 security payment chip.
Accredited by China UnionPay (CUP) – the country’s domestic bank card organization, Infineon has participated in the transformation of the payment industry underlining the country.
In China, SLE77 has found a large installed base in cards issued by financial institutions. Among them are large state-owned banks, joint-stock commercial banks, or rural credit cooperatives.
The SLE77 series is certified according to internationally accepted security standards such as Common Criteria and EMVCo. It is ideally suited for multi-application and JAVA-based operating systems. In addition, Infineon’s innovative Coil on Module (CoM) packaging technology simplifies manufacturing of dual-interface cards and improves production yield and reliability of the card.
“The Chinese payment card market has great significance for Infineon. It’s a great honor for us to be recognized by both China UnionPay and the People’s Bank of China,” said Thomas Rosteck, Vice President at Infineon’s Chip Card & Security division. “This reinforces our market position and endorses our bid to become the first choice for the Chinese banking industry: we are committed to supporting much more convenient payment services for consumers and improving financial security in close cooperation with all financial institutions and ecosystem players.”
Supporting over 100 million end users every day, the SLE77 series plays a significant role in the field of smart transport ticketing around the world as well as in smart wearable solutions and is deployed in major Chinese cities such as Beijing, Guangzhou and Shenzhen. Further examples can be found in Spain, the UK, Korea and Brazil.
Furthermore, a professional financial industry publication, FC magazine has marked Infineon’s SLE77 security chip with the “Outstanding Product Innovation Award”.
China UnionPay (CUP) is the country’s domestic bank card organization established under the approval of the State Council and the People’s Bank of China. It plays an essential role in the development of China’s bank card industry: CUP is responsible for the validation of secured payment card products and issuance of certificates.