Oberthur Technologies (OT) has bulked up its Austria debit card portfolio through the integration of its Quick Electronic Purse loaded on its contact and contactless cards.
OT is able to provide rechargeable debit cards with the Quick e-purse technology for the Austria-wide service that enables cashless micropayments at small retailers and vending machines. Using OT’s contact and contactless tech, the card can either be inserted into a terminal or waved in front of it. The customer can then use a button on the keypad to confirm the purchase without needing a PIN or signature.
The benefit OT provides in this case is its multi-applicative and contactless debit card, which runs its Quick application. Not only does this card allow cardholders to make micropayments, but it also enables other functionalities such as loyalty, transport and access control.
“At OT, we are delighted to have been selected by Payment Service Austria to provide our multi-applicative debit card embedding the Quick e-purse application. Thanks to OT’s technology, cardholders in Austria will enjoy micropayments in a secure, convenient and quick way” said Eric Duforest, Managing Director of the Financial Services Institutions Business at OT.
OT is a provider of digital security products aimed at protecting consumers you when they connect, authenticate or pay. According to the company: “OT is strategically positioned in high-growth markets and offers embedded security software solutions for “end-point” devices as well as associated remote management solutions to a huge portfolio of international clients, including banks and financial institutions, mobile operators, authorities and governments, as well as manufacturers of connected objects and equipment.”
The company employs roughly 6,300 employees worldwide and has a global footprint of four regional secure manufacturing hubs and 39 secure service centers. OT’s international network serves clients in 140 countries.
For Oberthur, 2015 has been a banner year. In fact, during a recent interview with MPD CEO Karen Webster, OT’s CEO Didier Lamouche revealed for the first time just how much market share OT has in the U.S.: nearly 40 percent — fueled by the migration to EMV now underway there.
Lamouche noted that the nearly 40 percent market share in the U.S. for EMV is combined with strong financial results for OT globally in Q3 of a 33 percent growth at actual rates over Q3 2014, which followed 25 percent growth in Q2 over the same period in 2014, demonstrating a strong growth pattern year-to-date for 2015.
Lamouche noted that the nearly 40 percent market share in the U.S. for EMV is combined with strong financial results for OT globally in Q3 of a 33 percent growth at actual rates over Q3 2014, which followed 25 percent growth in Q2 over the same period in 2014, demonstrating a strong growth pattern year-to-date for 2015.