Word: gemalto
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...Bank officials, however, are deflecting the blame, saying that the chipmaker Gemalto is the one responsible for the glitch. The company, which is a major supplier to German banks, said in a statement on its website that it is working with the banks to find a solution that would avoid replacing all the cards, which could cost up to $430 million. "We are fully focused on minimizing the inconvenience for the cardholders," said Olivier Piou, the head of Gemalto. "We will of course meet our contractual obligations, and continue to support our clients...
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