OT (Oberthur Technologies), a leading global provider of embedded security software products and services, strengthens its leading position in the payment field by introducing its “Flybuy” range of new innovative wearable options for seamless payment on the go.
According to IHS Technology, the number of wearable devices used for payments is projected to increase from 10 million units in 2015 to over 150 million units in 2020. As a pioneer in this market with the first payment sticker and keyrings, OT has been very active working with banks, processors and partners to propose a comprehensive range of wearable options:
· Flybuy Mini Fob is a very small (SIM-size 15x25mm) contactless card including a boosted antenna that can be inserted into a silicone or leather wristband, a key chain or special pieces added to fitness trackers or watches. FlyBuy Mini Fob makes it possible to add contactless payment functionality to various existing objects.
· Flybuy Secure Element is intended for OEMs to be embedded into watches or fitness bands directly at the manufacturing stage.
FlyBuy Wearables can be positioned either as a companion extension to the existing payment card or as a stand-alone prepaid option. In both cases, their settings can be easily managed by a mobile app. They can be used for payment, but also for public transport and access control to corporate premises, fitness centers or music/sports events for example.
“The global market of wearables is nascent and has huge growth potential over the coming years. With its leading position in the payment field, OT is a key and trusted partner to offer wearable payment solutions thanks to its comprehensive portfolio of products which can answer a full range of customer requirements” said Cedric Collomb, Head of Global Offer & Indirect Sales for OT’s Financial Services Institutions business.
Contributed | what does this mean?