Fremont Bank, one of the largest full-service community bank in Northern California, has announced that it will begin issuing contactless debit cards.
According to Fremont Bank, the new debit cards will use STAR CertiFlash, a chip application developed by First Data’s STAR Network that uses one-time card number technology to advance security at the point of sale.
With STAR CertiFlash, the consumer’s card data is eliminated from the payment transaction, says Fremont. For each CertiFlash transaction, the chip encrypts and transmits a card number that is good for only a single use.
The cards will also contain traditional magnetic stripes in addition to contactless chips, which will allow customers to simply tap and pay for transactions of $25 or less.
Fremont says they will introduce the new cards to an initial group of approximately 400 cardholders during the third quarter of 2011.