SCM Microsystems Announces myEMV Reader for MasterCard Chip Authentication Program
March 18 2004 - 2:30AM
PR Newswire (US)
SCM Microsystems Announces myEMV Reader for MasterCard Chip
Authentication Program CeBIT, HANOVER, Germany and FREMONT, Calif.,
March 18 /PRNewswire-FirstCall/ -- SCM Microsystems, Inc. (Nasdaq:
SCMM; Prime Standard: SMY) today announced myEMV, a sleek,
two-factor authenticator designed for use with EMV smart bankcards
and the MasterCard Chip Authentication Program (CAP). SCM will
market the terminals to banks and their systems integrators in
countries migrating to EMV. The company is demonstratingmyEMV at
CeBIT, in Hanover, Germany from March 18 to 24, 2004 in Hall 17,
Booth # D26 and Hall 6, Booth # E10. "Banks and card issuers
migrating to EMV need online solutions, and myEMV solves that
problem," said Robert Schneider, chief executive officer of SCM
Microsystems. "It is an elegantly simple device, yet it
significantly increases the transaction security for consumers,
issuers and merchants. It fills out our mobile security solutions
for the banking industry by adding an offline device to our
high-security PC-connected PIN pad solution and other smart card
readers." myEMV is a battery operated smart card reading device
with a display and keypad for entering PIN codes. It is only
slightly larger than a credit card, with a highly stylized design
featuring an oval shape and perimeter key placement. The device
generates a One Time Password or Transaction Authentication Number
for the authentication of online transactions such as e-commerce or
e-banking. When a smart bankcard is inserted, the cardholder is
prompted to enter his or her PIN. The reader then generates the
one-time transaction authentication code, which the cardholder
enters when making an online purchase using a standard Internet
browser. The authentication data is transferred across the network
and validated by the issuer, providing a type of "card-present"
verification method for online transactions. Because it is entirely
offline and not connected to any PC, myEMV is easy for consumers to
set up and use and it is totally platform independent. Since the
security lies in the smart card, every reader is identical without
the need for personalization, making it a cost efficient and
easy-to-distribute solution. When used with the MasterCard CAP
program, the combination of the smart EMV bankcard and the reader
creates a strong authentication tool for e-commerce, e-banking or
any Web-based application where secure authentication is required.
Consumers benefit from higher personal security for Internet
payments and on-line banking. Web merchants get a payment
guarantee, and a guaranteed identity of the user to aid in
disputes. Issuers can reduce fraud and improve cardholder
acquisition and retention. Banks that are already issuing
paper-based Transaction Authentication Numbers (TANs) can also
reduce operating expenses associated with the issuing and tracking
of these numbers. myEMV conforms to the 3DS-CAP specification.
Designs can be customized to carry corporate logos and custom
coloring to suit specific client requirements. myEMV is based upon
the same platform as the EasyTAN(R) reader, SCM's solution for
generating TANs for EMV (Europay, Mastercard, VISA) chip cards
based on the SECCOS(R) (Secure Chip Card Operating System) software
platform. About SCM Microsystems SCM Microsystems is a leading
supplier of solutions that open the Digital World by enabling
people to conveniently access digital content and services. The
company markets and sells its smart card reader technology for
network and physical accessand conditional access modules for
secure digital TV decryption to OEM customers in the government,
financial, enterprise and broadcasting markets worldwide. Global
headquarters are in Fremont, California, with European headquarters
in Ismaning, Germany. For additional information, visit the SCM
Microsystems web site at http://www.scmmicro.com/. NOTE: All trade
names are either trademarks or registered trademarks of their
respective holders. DATASOURCE: SCM Microsystems, Inc. CONTACT:
ManfredMueller of SCM Microsystems, +49 89 95 95 5140, or ; or Deb
Montner of Montner & Associates, +1-203-226-9290, or , for SCM
Microsystems, Inc. Web site: http://www.scmmicro.com/
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