Smart card provider Giesecke & Devrient is providing more than 100,000 contactless MasterCard PayPass debit cards to First Hawaiian Bank, the state’s largest bank and the first local institution to issue the contactless payment cards. G&D has supplied more than 10 million contactless payment cards to U.S. banks and says it anticipates significant growth in this area in 2008.
First Hawaiian Bank has begun issuing contactless debit cards provided by Giesecke & Devrient (G&D), a worldwide technology leader specializing in smart cards and services. The Bank’s Priority Rewards MasterCard PayPass debit cards, powered by INSIDE Contactless’ MicroPass intelligent hardware technology, enhance the Bank’s traditional card offering and offer a secure and convenient payment method. G&D has delivered the contactless debit cards, as well as traditional magnetic stripe credit and debit cards, for First Hawaiian Bank card programs.
First Hawaiian’s MasterCard PayPass debit cards provide a fast and convenient experience for customers, enabling them to make purchases by simply tapping their contactless card on a special merchant reader terminal. Results have been very positive in the early stages of this program, and will strengthen as the program continues.
“MasterCard PayPass contactless payment technology has “tapped into” the card future and we strive to offer such innovations to our First Hawaiian Bank customers. G&D is an excellent partner with whom to have launched this new product line, due to their diligence, innovation and commitment to the market,” said Curt Otaguro, Senior Vice President and First Hawaiian Bank Card Services Division Manager.
“First Hawaiian is the largest bank in Hawaii, and it is also the first local institution to issue MasterCard PayPass debit cards,” said G&D’s Group Vice President, Christian Juettner. “We’re working diligently to ensure that we meet all of First Hawaiian’s needs, and we’re confident that consumers and merchants throughout Hawaii will be pleased with the performance and convenience of their contactless cards.”
“We’re thrilled to add First Hawaiian to our list of large and innovative issuers that have adopted contactless payment programs for their customers,” said Didier Serra, General Manager and Executive Vice President of Sales for North America at INSIDE Contactless. “G&D is a trusted, and successful partner of Inside’s, and we’re pleased to work with them to support First Hawaiian’s contactless roll-out.”
G&D has supplied over 10 million contactless payment cards to U.S. banks and anticipates significant growth in this area for 2008. As the second largest smart card provider in the world, G&D delivers leading-edge technology, ensuring that our customers are able to offer their customers new innovations as soon as they enter the market. Coupling Inside’s MicroPass platform with G&D’s security expertise creates the confidence and performance that is required for contactless payment transactions.
About First Hawaiian Bank
First Hawaiian Bank ($12.5 billion assets) was founded in 1858 and is Hawaii’s oldest and largest bank. It has 58 branches in Hawaii, three on Guam and two on Saipan. It is a subsidiary of BancWest Corporation (www.bancwestcorp.com), a financial holding company with assets of $71.1 billion.
About Giesecke & Devrient
Giesecke & Devrient (G&D) is a technology leader in the field of smart cards, providing smart card based solutions for the fields of telecommunications, electronic payments, transportation, identification, health, and Internet security (PKI). G&D is also a leading producer of banknotes and security documents, and dominant in the field of currency automation. Based in Munich, the G&D Group operates subsidiaries and joint ventures around the world, including G&D’s North American headquarters, located in Dulles, VA, and full service card manufacturing facilities in Ohio, Ontario and Mexico. The Group employs almost 8,300 people and generates annual revenue of EUR1.3 billion. For more information, visit www.gdai.com.
About INSIDE Contactless
As the only fabless semiconductor company focused exclusively upon contactless chip platforms, INSIDE Contactless is a market leader in Near Field Communication (NFC), contactless payments, and access control. Innovation in contactless technology has led to more than 55 patents granted to INSIDE, including several essential NFC technology patents. INSIDE is the #1 market share provider of contactless bank card technology in the world, with more than 35 million MicroPass intelligent payment platforms delivered from launch in 2005 through 2007. MicroPass, the 2007 Sesames “Best Hardware” award winner, powers cards issued by more than 20 global bank card issuers. For more information, visit www.insidecontactless.com.