FRANKFURT (AFX) - Infineon Technologies AG said it has won a contract to supply MasterCard with chips for 'contactless' payment cards.
No financial details were disclosed.
The company added that it now supplies high-security contactless smartcard microcontrollers to MasterCard in 13 countries worldwide.
In 2006, at least 400 mln chip-based payment cards were expected to be issued worldwide of which about 17 mln were contactless chipcards from MasterCard and Visa.
Holders of such cards can make payments by waving the card over a reader, removing the need to swipe it. krysia.diver@afxnews.com kd/jlw COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
No financial details were disclosed.
The company added that it now supplies high-security contactless smartcard microcontrollers to MasterCard in 13 countries worldwide.
In 2006, at least 400 mln chip-based payment cards were expected to be issued worldwide of which about 17 mln were contactless chipcards from MasterCard and Visa.
Holders of such cards can make payments by waving the card over a reader, removing the need to swipe it. krysia.diver@afxnews.com kd/jlw COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
© 2007 AFX News
