10/06/2003 Lithuanian company adjusts EMV standard
Penkių kontinentų bankinės technologijos (BS/2), UAB Programmer Oleg Sokolovskij together with “Wincor Nixdorf” software engineer Luna Woelfl participated at EMV equipment testing, which took place in St. Petersburg (Russia).
The testing approved that “Wincor Nixdorf” banking equipment is adjusted to EMV standard, that means the equipment is adjusted to the new smart cards of the various banks (EMV – “Eurocard”, “Mastercard”, “Visa”). BS/2 was given a paper confirming the fact.
“VISA International” and “EuroPay/MasterCard” are implementing the process of changeover from magnetic to smart cards and of the adjustment of banking equipment to general EMV standards.
In autumn of 2001 “VISA International” chose 11 world’s companies for the implementation of migration process, including the Lithuanian banking technologies’ company Penkių kontinentų bankinės technologijos, UAB.
BS/2 was given “ISA CEMEA Chip Migration” partner status. The company has got a task to implement the changeover from magnetic to smart cards in the Central and Eastern Europe, Middle East and Africa (CEMEA – Central and Eastern Europe, Middle East and Africa).
Changeover from magnetic to smart cards in Lithuania is to be implemented till the year 2005. Till 2005 number of smart cards used is expected to exceed the number of the residents of Lithuania.