Morpho and Banner Plasticard Announce Business Collaboration in the Philippines

Morpho will provide Banner Plasticard with personalization technology, based on first-class industry standards for EMV card operations such as Data Preparation and Data Generation Services. Banner Plasticard will set up and operate a local personalization center and at a later stage also manufacture EMV cards.

Anthony Ong, Managing Director of Morpho Cards Singapore, states: "This strategic collaboration decisively consolidates our strong position in the banking market. We are delighted that Banner Plasticard chose Morpho's comprehensive payment solutions expertise to build up its new personalization bureau with our leading EMV technology."

The migration to EMV technology in the Philippines is moving fast. In 2013, the Central Bank of the Philippines issued a mandate valid for all local banks and financial institutions to adopt higher data encryption standards for all automated teller machines (ATMs) in the country and to shift to ATM cards with more security features. This regulation also requires shifting from the magnetic stripe technology to the more secure EMV chip-enabled cards by January 1, 2017, backed up by a detailed EMV migration plan focused on strengthening the existing electronic retail payment network and protecting it against ATM and credit-card fraud.

*EMV : Europay MasterCard Visa