Source: Oberthur Card Systems
Oberthur Card Systems, the world's leading provider of payment cards, is taking the lead in supporting the movement to contactless cards.
JP Morgan Chase, American Express, Citibank, KeyBank and Citizens have launched contactless programs with many other large issuers expected to follow suit in 2006, and Oberthur Card Systems is uniquely positioned to play a leading role in the product and fulfillment of the estimated 30 to 40 million cards to be issued 2006.
During the first quarter of 2006, Oberthur shipped several million contactless cards that were driven by these large-scale deployments.
"Oberthur Card Systems is the only major smart card solutions supplier that can provide end-to-end manufacturing and personalization of contactless cards and Fobs. Oberthur Card Systems is leveraging its worldwide R&D resources to deliver these new contactless product and services in the U.S. market as well other countries where contactless cards are gaining interest. We are uniquely positioned for high-volume production to ensure smooth roll-outs of these exciting new programs," noted Philippe Tartavull, president of Oberthur Card Systems of America.
Contactless devices have proven to be a valuable tool for consumers, retailers and financial institutions. Research shows contactless payment devices speed up transactions by 55 percent over cash and 40 percent over cards - a clear win for both merchants and consumers and they also increase the number of transactions by 25 to 30 percent - a significant new revenue source for issuers.
"As a company, we have a clear focus on maintaining our leadership position by being the technology partner of choice for new developments spurred by contactless payments - such as alternative form factors and by investing in new technologies, to be able to handle the growing demand for contactless payment devices," Tartavull added.