Morpho (Safran), a global leader in identity and security solutions, today announced the production of state-of-the-art smart card modules for Elo, a 100% Brazilian payment association set up by Banco do Brasil, Bradesco and CAIXA.
Morpho created a specific smart card operating system for the Brazilian company, enabling every smart card to be used for banking applications as well as for shopping with credit and debit functions, accepted at more than 1.7 million establishments and point of sales.
The Elo chip wafers are shipped directly from silicon manufacturers to Morpho's production site located in Taubate, Sao Paulo state, Brazil. Morpho handles the highly demanding chip encapsulation process into a module, then securely loads the operating system and Elo payment application. The successful certification of Morpho's chips based on Elo specifications validates both Morpho state-of-the-art software implementation and full local module manufacturing process.
"We are very happy that Elo chose Morpho's leading smart card technology expertise to realize this special chip-based application, developed exclusively for their payment cards in Brazil. This order decisively reinforces our strong position in the Brazilian payment market and the entire South American market," said Marcelo Bellini Garcia, VP Sales Payment of Morpho do Brasil S.A.
For Elo this project marks a very important step as it is the first domestic company to have its smart cards be produced in the country: "The partnership's goal is to bring important operating earnings for Elo's members and issuers, aside from contributing significantly to the development of innovative payment technology in Brazil," said Eduardo Chedid, Elo President.
Morpho has operated in Brazil since 1999, providing leading market solutions for biometrics, digital identity, secure transactions and detection systems.
Morpho do Brazil offers a complete solutions portfolio and full service covering micro-electronics, milling, embedding, personalization and fulfillment for the telecom, payment, health and ID markets. The local state-of-the-art production and chip assembly, including the data center in the country, will allow Morpho to supply biometric identification and authentication solutions, e-ID platforms and a capacity to produce more than 100 million cards per year. The local Morpho R&D center will also be able to develop innovative tailor-made solutions based on the identification of local needs.
Elo is a 100% domestic card brand in Brazil and only allows for transactions in Brazilian Real currency. Elo results from a partnership of three of the largest banks in Brazil: Banco do Brasil, Bradesco and CAIXA. Elo is the first 100% Brazilian flag. Created in the late 1960s, Elo returned to the market and was officially presented in 2011, result of the union of 3 of the country's largest banks (Banco do Brasil, Bradesco and CAIXA). Aiming to be a robust and in-depth brand, Elo offers a wide variety of products and services destined for all audiences, with options in credit, debit, prepaid and benefit cards. Accepted all over the country in more than 1.65 million establishments, Elo has approximately issued 80 million credit cards to date.
Morpho (Safran) is a global leader in identity and security solutions for an increasingly digital and connected world. We employ more than 8,600 people in 55 countries and generated revenues of more than €1.5 billion in 2014. Backed by more than 40 years of experience in biometrics, our unique expertise lies in developing innovative technologies for a wide range of markets and applications for people, governments and business. Morpho (morpho.com) contributes to managing identities, protecting borders, detecting threats, supporting law enforcement and providing trusted on-line transactions and services. Our solutions protect identities, ensure safety and safeguard privacy, for easier, everyday lives.