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Cards

ICBC reinforces another three years contract with Gemalto

Wednesday 9 January 2019 | 10:59 AM CET

China-based bank ICBC has announced it awarded Gemalto a three-year contract for its payment cards solutions.

The agreement concerns card brands such as Amex, China UnionPay, JCB, Mastercard, and Visa. Moreover, Gemalto’s card solutions for ICBC are dual interface, allowing them to function with contactless readers, as well as with contact-based terminals.

Gemalto has been active in the biometric payment cards area, and the company noted the popularity of payment cards in China, as almost three quarters of respondents in a recent survey of Chinese consumers said they could live for a month with less than USD 15 in cash. Gemalto also suggested that thanks to government-led efforts to upgrade Point of Sale terminals in the country, contactless payment methods are ‘set to grow.’

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