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Paragon tapped by Kuwaiti banking switch to help with EMV migration
May 29, 2008
HOLLY SPRINGS, N.C. — Paragon Application Systems, a global provider of electronic payment (ePayment) simulation, configuration and testing software and services today announced that The Shared Electronic Banking Services Company (Knet), the national banking switch in Kuwait, has licensed EMV support for Paragon's QA and regression testing tool, FASTest. Knet is using FASTest with EMV to simulate and test EMV chip card transactions.
To combat financial transaction fraud, many countries worldwide are adopting the EMV standard for integrated chip cards. EMV chip cards store financial data on a secured chip versus on the magnetic stripe. Chip cards are hard to duplicate and contain specific secure information that can't be read from the card.
Knet has used Paragon's FASTest for automated QA and regression testing since 2005. To confirm the accuracy of their EMV transactions, Knet recently licensed EMV support for FASTest. FASTest with EMV support enables Knet to validate that it is mapping the correct EMV tags, and that the cryptograms and EMV fields that are being sent are legitimate. Knet is able to create an unlimited number of virtual EMV cards, or soft cards, for testing with FASTest. Soft cards give Knet the ability to test scenarios that would block a physical EMV card.
"Member banks count on Knet to provide reliable, error-free financial transaction processing," said Haifa Al-Ali, manager of application development for Knet. "Paragon has provided reliable, easy-to-use testing solutions that have enabled us to improve quality and reduce our development time."
Middle East & AfricaTrends / StatisticsBank SecurityEMVRegulation / LegislationDebit / CreditNorth AmericaTransaction ProcessingRetail / Off-PremisesBank / Credit UnionBranch TransformationSoftwareSecurityInnovation
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