Canadian financial institution to convert cards to EMV

Canadian financial institution to convert cards to EMV
Tags: EMV, Security
July 27, 2010

Home Trust Co., a federally regulated Canadian trust company, has hired Gemalto N.V. to convert the financial institution’s magnetic-stripe cards to EMV or chip-and-pin cards.

Gemalto, an Amsterdam, The Netherlands-based digital security company, is providing microprocessor payment cards as well as data preparation, card personalization and fulfillment at its facility in Burlington, Ontario.

Home Trust, which is based in Toronto, issues fewer than 100,000 Visa-branded cards, a Gemalto spokesperson said.

Canada’s entire payment system is converting from magnetic-stripe cards to EMV by 2015. Home Trust is a residential and non-residential mortgage lender.