Oberthur Card Systems talks up US business
17 May 2007 | 1506 views | 0
With more than 13 million of its contactless cards in circulation in the US in 2006, Oberthur Card Systems holds a solid #1 in this growing market.
At the end of 2006, the global smart card leader has produced more than 36 percent of the estimated 36 million contactless banking cards(1). Oberthur's high volume manufacturing and personalization facilities throughout the U.S. make it well positioned to handle the large volume requirements of banks and financial service companies.
"We captured this market with our ability to create, manufacture and personalize innovative products that help our clients stay at the top of American's wallets," said Martin Frenzi, president of Oberthur Card Systems for the Americas. "Through this focused effort we have developed such eye-catching products as cards with a color core and raised graphics. Also, Oberthur has pioneered non-card payment devices such as the VersaFOB, an enclosed payment device which hangs from a key chain. The VersaFOB provides the first opportunity to mass commercialize fobs using existing personalization machinery."
U.S. Embraces Contactless
Americans are embracing contactless payments with statistics showing that contactless cards quickly become the top option for shoppers -- trumping conventional cards. Aberdeen Research Group estimates that by 2011 the total contactless cards in the U.S. market will be 109 million cards. Oberthur points to contactless card initiatives underway in 10 major sports stadiums as well as a number of fast food chains; as high profile showcases for the benefits of contactless technology. Contactless cards speed up the purchasing process for the consumer and the vendor since the technology allows the transaction to be completed in half the time it would take for a cash or standard magnetic stripe transaction. In the U.S. quick service restaurant (QSR) market alone, where transaction speed is critical, there was $143 billion in transactions in 2006. Contactless cards are also being used in movie theaters, gas stations and convenience stores throughout the U.S.
(1) Oberthur Card Systems' estimation