The Common Electronic Purse Specifications (CEPS) working group last week released its first version of the specification it has been working on since June last year. The specification has until now been in independent security labs undergoing tests, a spokesperson for Visa International, one of the founding members of the working group told ComputerWire. The specification is now being made publicly available to all interested parties. The group, which is headed by Visa International, Europay International, SERMEPA and ZDK says it expects migration to the standard to begin immediately with full adoption by 2001.
CEPS has backing from almost all the major electronic purse providers, including American Express, Cartes Bancaires of France, ERG of Australia, NETS of Singapore and Proton World International. The CEPS group claims that its supporters issue over 90% of the worldÆs credits cards. A notable exception from the supporters is US card company, Mondex, which has around 300,000 users, representing about 1% of the total global card issue. But with only Mondex and a handful of small operators not supporting CEPS, it looks set to become the de facto global electronic purse standard.
CEPS defines requirements for card applications, terminal interfaces, point-of-sale terminals and message formats. CEPS is also compatible with EMV specifications for chip cards. Visa said it expects earliest adoption to occur in Europe, where there is generally more acceptance of chip cards. The US has been slow in the uptake of smart cards, probably due to a better telecommunications infrastructure allowing for better online authorization procedures, said a spokesperson.
The group says it also has backing from some 50 technology vendors which have agreed to develop CEPS-compliant products. Among the supporting vendors are Bull Smart Cards & Terminals, EDS, Gemplus, Siemens AG and STMicroelectronics. To protect its intellectual property rights, the CEPS working group is requiring all interested parties to sign a licensing agreement to receive the specifications. There is, however, no charge.
