Tongxin Micro's Chip Supports EMV-compatible Card

Recently, a credit card supporting dual standards including EMV was issued in China for the first time. Tongxin Micro’s security chip THD89, the first Chinese chip adopted by this card, demonstrates the strength of Chinese chips to the world, and accelerates the pace for China’s financial technology to catch up with the world’s payment industry. It also represents another milestone for Tongxin Micro’s chips (Chinese chips) shines on the global stage.

One chip for dual applications means that the same chip supports both the Chinese PBOC and the overseas EMV standards. With this card, EMV card organizations obtaining the bank card settlement license will be able to provide users with worry-free payment experience in both China and overseas markets. That means, card holders can use RMB for direct settlement in overseas markets without conversion for settlement and repayment, enabling more convenient and diversified financial service experience. Currently, major commercial banks in China, including China Guangfa Bank, Shanghai Pudong Development Bank, Ping An Bank, Minsheng Bank have announced the issuance of this card to the public.

"The availability of the EMV-supporting card in China is a grand event for the whole industry." Zou Zhongren, Vice President of Marketing, said: "as far as chip suppliers are concerned, Tongxin Micro’s THD89 series is the first Chinese security chip passing the test for the EMV-supporting application and adopted by the credit card. It represents that our R&D capabilities and technologies are recognized globally, which is of great significance for promoting the large-scale application of China's chip innovation achievements and supporting the rise of Chinese chip brands in the global industry chain."

This time, the security chip applied to the EMV-compatible card is THD89, a star high-performance security chip from Tongxin Micro. This series of the product complies with the EMV-compatible technology standards, supports international and Chinese cryptographic algorithms and is compatible with all mainstream standard interfaces. It adopts such technical measures as encrypted memory storage, encrypted bus storage, electrical environment monitoring, defensive differential power analysis, and anti-fault injection. This device endures up to 500,000 program/erase cycles and has a data retention of 25 years. Moreover, it has obtained the China UnionPay Chip Security Certificate, EMVCo Certificate, OSCCA Level 2 Certificate, ISCCC EAL4+ Certificate, among others, making it comparable to the world's first-class products.

It is notable that the THD89 series has just passed the rigorous testing of the international SOGIS CC EAL 6 certification, becoming the first of its kind in China receiving the world's highest-level security certification. This certification shows that THD89 is now comparable to the world’s top-class peers in terms of security protection. The EMV-compatible credit card with the built-in THD89 enables both the identity security and information security to build an extremely secure and stable consumption channel for users. With this card, Chinese users can enjoy settlement and clearing in RMB for consumption services either in China or in overseas markets.

In fact, Tongxin Micro has accumulated sufficient experience in global financial payment in over 10 years. In China, Tongxin Micro has been shortlisted by all the six major state-owned banks and has reached in-depth cooperation with more than 10 joint-stock banks and dozens of local commercial banks. In recent years when financial technology has been booming, Tongxin Micro, in response to the Belt and Road Initiative, not only has realized the widespread chip application in overseas banks, but also developed the first EMV-compatible card with the build-in Chinese chip by joining hands with well-known domestic card issuers, taking the lead in bringing the domestic financial IC cards to the global market.

Today, Tongxin Micro’s security chip again brings surprises to the world, not only diversifying the product system and value of credit cards but also empowering homegrown card issuers to go global. From now on, made-by-China chips are expected to become a new growth source of the world’s financial technology.

Financial technology based on cloud computing, big data and 5G is embracing new development opportunities, and a new wave featuring connectivity is coming to the financial industry. Seizing the opportunity of the times, Tongxin Micro will join hands with like-minded partners to create a bright future for the chip sector hence making contributions to the great rejuvenation of the Chinese nation.