30 October 2012

Munich-based G&D to open new personalization center in Chennai, India

Munich, October 30, 2012 – Giesecke & Devrient (G&D) is continuing to significantly expand its global presence in the field of smartcard personalization. Following on the heels of its strategic investments in China, the Munich-based technology provider is now also focusing its attention on the USA, Canada, and India. In the future, highly secure EMV chip-based payment cards will replace conventional magnetic stripe cards, particularly in the USA and in Asian growth markets. 

India has been the focus of G&D's most recent investments in this area. In Chennai, on India's east coast, the company is in the process of opening a new personalization center offering a complete end-to-end service designed to help Indian banks migrate to smartcard solutions. This follows on from the recent inauguration of G&D’s personalization bureau for EMV cards in the Canadian city of Montreal. By establishing a presence in the Canadian province of QuĂ©bec, G&D intends to both strengthen its relationship with local customers and further extend its current leading position in the Canadian EMV market. 

Just one month ago, Giesecke & Devrient announced that it would be significantly expanding its EMV activities at its Twinsburg site in the U.S. state of Ohio, creating around 100 new jobs. The company has also confirmed that it will be officially opening a new personalization center in the Indonesian capital of Jakarta within the next few months, a move which will significantly expand its production capacity in the Southeast Asian region, too. 

EMV chip-based payment cards are gaining ground all around the world and are set to replace conventional magnetic stripe payment cards over the medium term. Giesecke & Devrient is one of the world's leading providers of technologies for electronic payment solutions. As well as offering its customers a comprehensive range of EMV solutions from a single source, it also provides customized products and services which can be flexibly adapted to satisfy individual customer requirements and meet the regulations that apply in each specific country. 

Giesecke & Devrient is an internationally leading technology provider with its headquarters in Munich, Germany and 58 subsidiaries, joint ventures, and associated companies in 32 countries worldwide. G&D had around 10,500 employees as of the end of 2011 and generated 1.635 billion euros in sales in fiscal 2011 – of which 87 percent was earned outside Germany. 

Source: G&D