The bank plans to replace all of its issued cards, which amount to more than 170,000, with cards of the EMV standard over the course of 2007. In order to meet this target, the bank has purchased and commercially launched the DataCard 7000 embosser, which is managed by the TranzWare Card Factory system.
The EMV migration provides Nomos-Bank customers with access to a wider range of banking operations accessible through the internet banking system, including payments and transfers. Once the customer obtains a smart card and smart card reader (crypto-calculator) from the bank, they will be able to make payments for mobile phones, internet, and public utility services, among other things, from any internet access point.
EMV cards issued by Nomos-Bank contain an application for generating single use passwords every time a cardholder accesses the internet bank, which will be used during authentication processes and when confirming banking operations.
