Secure electronic transaction solutions provider, Keycorp Limited today announced it has obtained certification to EMV Level 2. The software module that has been certified is portable across Keycorp's EMV Level 1 certified terminals, the K78 and K23, and is a plug-in module for the embedded software framework.

EMV Level 2 specifications serve as the benchmark for customers migrating from magnetic stripe cards to smartcards across the industry. The standards also ensure interoperability between chip cards and terminals globally. Achieving certification at this level demonstrates Keycorp's capabilities to produce applications which meet world-class standards in payment transactions, and provides a significant opportunity for Keycorp to market these solutions globally, particularly where there is a requirement to upgrade payment technology to chip based payment cards.

"The EMV standard is one of the most significant standards in our industry, reforming payments globally from magnetic stripe-based systems to smartcards. Keycorp's demonstrated ability to comply with the standards qualifies the company to service the large replacement market that is now emerging," said Gerard Vos, General Manager, International Distribution, Keycorp Limited. "Keycorp is one of only a select number who have obtained the EMV Level 2 accreditation, providing confidence to global financial institutions that Keycorp's infrastructure supports secure chip-based payment cards around the world."

Certification to EMV Level 2 demonstrates Keycorp's capability to create EMV applications such as VSDC and M-Chip, and is a mandatory requirement for many new payment terminal opportunities. Over the next few months, the certified software upgrade module will be included in VSDC and M-Chip applications for customers in Australia, New Zealand and Europe.