Chinese firm Sunshine set to roll out 3 m bank smart cards monthly

24Feb 2017
The Guardian Reporter
The Guardian
Chinese firm Sunshine set to roll out 3 m bank smart cards monthly

CHINESE firm Sunshine High Technology has said it is ready to start rolling out most bank smart payment cards of global standards locally.

The company management said that it will start rolling out Europay MasterCard and Visa (EMV) and that 3 million EMVcards will be produced monthly depending on the demand of the cards in the market. This would eventually create 100 jobs locally, they said.

The locally produced cards will have a dual system which can be physically inserted into a reader and also are contactless cards that can be read over a short distance using radio-frequency identification (RFID) technology.

Leo Lee, Chief Executive Officer (CEO) of the firm said that it will train local technicians on how to operate card making machines while others will work in quality control, marketing and advertising.

Lee said that the local manufactured EMV cards will enhance security and safety of clients of local banks.

Sunshine card high technology EMV has come at the time when the Bank of Tanzania (BoT) is advising local banks that all Automated Teller Machines (ATMs) should be programmed with EMV to enhance security features.

The BoT directive comes after many local banks lost hundreds of millions of money through online hackers.

An EMV standard is a global device for authenticating card transactions using microchip technology. The device was developed in 1994 in a joint effort by Europay, MasterCard and Visa that sought to establish guidelines to ensure joint global payments, fraud security and the relevance of worldwide card networks.

Microchip technology is considered the most secure for ATM cards. The chip has a secret code that stores the customer’s details and it is hard to hack.