DESJARDINS GROUP USES CRYPTOMATHIC'S CARDINK FOR EMV CARD ISSUANCE IN CANADA

Cambridge, UK - 3 March 2008

has signed a contract with Canada’s largest cooperative financial group, Desjardins, to supply its CardInk data preparation system for use in Desjardins’ EMV payment card issuance program. The program will involve the issuance of chip cards to the cooperative’s base of member-owners over the next four to five years.

CardInk - Cryptomathic’s second generation EMV data preparation system for single and multiple application cards – will generate the personalisation data for all Desjardins’ EMV cards, including all cryptographic data, ensuring a highly secure environment for data generation and key management in the card issuing process.

Jean Yelle, Vice-President of Desjardins Card Services, comments: “We have chosen Cryptomathic, and its CardInk product, because they have clearly shown their world-wide expertise in this field. Their ability to address Desjardins’ specific needs and timeline lead us both to success and a new partnership.”

Peter Landrock, Executive Chairman of Cryptomathic, comments: “We are very pleased to be working with Desjardins on its national EMV payment cards issuance programme. The performance, efficiency and suitability of CardInk for this deployment have already been proved in the trial and we look forward to continuing our work with Desjardins in order to ensure that the organisation’s member-owners enjoy a successful, smooth and secure transition to EMV payment cards.”

Cryptomathic’s CardInk data preparation system can be used by Canadian issuers to support Interac, the Canadian national debit application, in addition to MasterCard’s EMV and Chip Authentication Program (CAP), Visa Smart Debit/Credit (VSDC) and Dynamic Passcode Authentication (DPA), and contactless payment applications.

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