Jan 23, 2002 — Samsung Electronics expects its Smart Card chip to become widely used in credit cards. Visa International has certified that the chip complies with the Europay/Master Card/Visa (EMV) technology standard, and Samsung is poised to go after the rapidly growing world credit card market.
EMV technology certification covers specifications for financial transaction systems and Smart Card-based credit cards. These specifications have been agreed upon by Europay Co., Master Card International and Visa International. They must be adhered to for Smart Cards to be universally compatible in world markets.
Visa International has conferred EMV Technology Level 2 certification on the 8-bit Smart Card chip with a built-in 8KB EEPROM for SIM cards used in GSM wireless communications by a strict and varied hardware risk review process. This level covers basic operation and architecture as well as protection against hacking. Receipt of this certification paves the way for Samsung to expand into Smart Card chip s for finance related products—a market that is expected to grow rapidly in Europe, China and elsewhere. Importantly, the certification was granted by Visa International, a highly trusted company with a large share of the world credit card market. The high degree of technology and security that the chip represents has been amply proven, and this should also help to boost sales.
Samsung Electronics started the Smart Card chip business in 1993, and sales have grown steadily ever since. Despite a sluggish semiconductor market the company has seen 3 times increase in sales for 2001.
Samsung expects to receive EMV technology certification for other Smart card ICs , such as combi Smart card IC in the first quarter of this year. This way, the company will be able to accommodate new credit cards with a variety of functions including the Openplatform card market.
About Samsung Electronics
Samsung Electronics Co., Ltd. is a South Korean multinational electronics corporation headquartered in the Yeongtong District of Suwon. Samsung is a major manufacturer of electronic components such as lithium-ion batteries, semiconductors, image sensors, camera modules and displays for clients such as Apple, Sony, HTC and Nokia. It is the world’s largest manufacturer of mobile phones and smartphones, started with the original Samsung Solstice and later, the popularity of its Samsung Galaxy line of devices. The company is also a major vendor of tablet computers, particularly its Android-powered Samsung Galaxy Tab collection, and regarded for developing the phablet market with the Samsung Galaxy Note family of devices.