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EMV Chip Cards
The use of Integrated Chip Card technology introduces four major business benefits to the payments industry:
 Fraud Reduction, both counterfeit as well as 'lost, stolen, never received' fraud
Reduced processing costs through secure offline transactions
Improved Credit Risk Management
Opportunity for Value Added Services
bankWORKS, the flexible Card Management System developed by RS2 incorporates complete support for EMV Chip Card Issuing. It features the management of the full lifecycle of chip card issuing including total control at cardholder level of offline risk management and other chip specific tags. The Chip Card Issuing module provides a smooth migration from magnetic stripe cards to chip cards by supporting the issuing of both magnetic stripe and chip cards together, even under the same BIN.
RS2 adheres to the specifications developed by MasterCard and Visa (EMV) to ensure that all the Chip Cards personalised by bankWORKS are compliant with EMV compliant terminals worldwide. All the latest chip applications currently provided by VISA and MasterCard are supported by bankWORKS.
EMV Chip Card Acquiring is likewise fully integrated within bankWORKS, adhering to the respective specifications developed by MasterCard and Visa while ensuring that chip card transactions are properly authorised and cleared. This ensures reduced acquirer risk as well as minimized interchange fees.
Please refer to the 'EMV Chip Card Issuing' and the 'EMV Chip Card Acquiring' brochures for more information regarding RS2's solutions for the issuing and acquiring of EMV chip cards.
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