Chicago-based company taking the lead on EMV training

Cardtek continues to strengthen its presence in North America and around the world as a solutions provider in the payment technology systems sector. Earlier this month, the company announced an equity investment made by MV Holding and Revo Capital.

Cardtek is currently providing payment technologies and services to more than 150 customers in 25 countries, including banks, telecom operators, processors, retail and public transit services. With this investment, the company will further strengthen its presence in North America, Europe, Middle East and Asia-Pacific.

“We have had resounding success in the international arena with numerous accomplishments with clients in four continents,” said Cardtek CEO Ayse Nil Sarigollu. “By proactively following the developments in the FinTech sector and with the foresight we have, we are able to offer a dynamic competitive edge to our customers.”

The company is aiming to become one of the world’s top 10 financial technology companies within the next five years, says Sarigollu.

EMV is the name of the global standard for chip payment cards. Chip payment cards are standard-sized bank cards that have a microprocessor, or a minicomputer, embedded in the card that meets requirements of the EMV standard.

Education will be a key component of both consumers and businesses alike need to understand the ins and outs of this new technology, says Gokhan Inonu, principal consultant of Cardtek’s Chicago office, the company’s North American headquarters. Cardtek operates from five different countries: Canada, Turkey, the United Arab Emirates and Azerbaijan, in addition to the United States.

“Everybody is looking at the EMV migration as a security issue, but in fact, it’s more like a technology product,” Inonu says. “So training the industry and educating employees is the biggest challenge.”

Cardtek has a training group called Cardtek Academy. The company is one of the MasterCard-accredited companies for EMV-related training and consultancy services.

“So whichever potential customer we are talking to, we are offering these tailor-made EMV courses,” Inonu says. “We have training programs for technical people, executives, and even journalists,” Inonu says. “We’re addressing everyone directly or indirectly involved in the payment systems.”

As companies look to find a company that can help them get up to speed with EMV technology, Inonu suggests following the same due diligence you would for any type of service.

“Look at the backgrounds of the companies that provide these types of courses,” Inonu says, adding that you should find a partner offering programs that fit your company’s needs.

In March, a partnership was announced with Corvallis, one of the first IT service companies in the Italian market with a high-added value offer addressed to banks, insurance companies, industry, the services sector and public administrations.

“As one of the major markets in Europe for card and mobile payment technologies, Italy is a key priority market for us,” said Erdal Yazmaci, general manager of Cardtek. “Having a strong partner like Corvallis will only strengthen our presence in Italy as a one-stop-source for payment solutions and increase our customer portfolio in Italy.”