Payment Card Construction
The discussion focused on the construction of the sandwich. Four layers. Clear front laminate to protect the ink, front with the banks design and brand logo, back with the banks back design and a clear laminate with the magnetic stripe integrated into it.
To enhance design additional layers may be added, such a metal foil.
These four sheets are then bonded together, at 120 degrees, in sheets of 21, 36 or 48 or other various sheet sizes. Next step punch out cards, add hologram and signature panel.
For a standard EMV card the next phase is to mill and embed the module with the chip inside. Last, the manufacturer typically loads the O/S & EMV application into the integrated circuit card.
When we move to dual interface caed, this process is modified to add an inlay, with the antenna embedded within. This inlay is inserted in the middle of the sandwich and during the embedded process the contacts exposed on the base of the module are connected to the antenna in the inlay.
Next step, personalization, when the appropriate data is loaded into the chip, along with the encoding of the magnetic strip and printing and/or embossing of the cardholders, name, expiry date, cvv2 and other information onto the card.
Contactless or Not That is a Question
ontactless NFC acceptance and dual interface issuance is all about the chicken and the egg. Who will go first? The merchant or the issuer? Each need each other. Both are wondering about the incremental value.
Faster transactions – Yes
Less cash – maybe
More revenue – good question!
In other parts of the world, transit and their choice of contactless, as the right answer to a more efficient fare collection solution is driving conversion. In other, markets a group decision to adopt or a desire to find the next great thing drives the market. Here in the USA, we have a less than successful history of contactless. Let’s not forget PayPass and PayWave, it was tried the middle of the last decade, to little or no success.
We have Google and the FinTech world looking to mobile payments as the next great adventure. Merchants, like Wal-Mart, are resisting NFC acceptance given their own plans for QR based wallets and desire to limit the sharing of data with competitors.
Given these questions and observations, one can only wonder.