As a leading supplier of stored value systems in numerous markets around the world, we sympathize with our customers when the conversation turns to the topic of smart cards. Many folks have spent 10 years or more developing an organizational environment based on magnetic striped cards, and the idea of switching their infrastructure to support a chip-based system is daunting.
And is it even the right thing to do?
ITC Systems has clocked decades of experience in the stored value business and we know that new ideas come and go. But we havent stayed on top of our game by making assumptions about new ideas. Weve stayed competitive through continued investment in technological expertise, ongoing analysis of trends in the industry and a non-stop hunt for better ways to help our customers meet their goals and eliminate potential problems.
How do smart cards stack up?
We took a good long look at how the smart card stacked up in terms of institutional and user security, ease of use, wallet share, and administrative efficiency. And we concluded that its actually pretty easy to build a business case to support the switch from magnetic cards to smart cards.
As a trusted provider with expertise in both magnetic and smart cards, we are sensitive to the issues involved in a move of this magnitude. Its not something most organizations race to do but industry experts predict that chip-based smart cards will ultimately predominate in information and financial transactions around the world.
Magnetic card? Smart card? Can you get both?
What many people dont realize is that the move from a magnetic card to a smart card system can be a gradual, measured transition. There are several options available right now for example, we could set your users up with a hybrid card that features a magnetic stripe, a contact chip and a contactless chip. With just one card users could make transactions at a wide variety of terminals from legacy mag stripe readers at POS stations to contactless, wave-n-go access into security-restricted areas.
We invite you to talk to an ITC Systems expert today to find out more about how a switch from magnetic card to a smart card solution would affect your organization. It might not be the best solution for you and if not, well tell you. Whats more, we can give you a clear explanation of the pros and cons of each format and give you our recommendations around smart card adoption within your specific institution.
