DUBAI, United Arab Emirates, Tuesday, November 2nd 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Oberthur Technologies, one of the world’s leaders in secure technologies, has been chosen by South Africa's ABSA Bank as the supplier of its new prepaid MasterCard contactless payment card with PayPass.
This is the first launch of dual-interface payment technology, to enable both contact and contactless payment transactions, on the African continent. Dual interface cards are already being used by banks in Europe, Asia, Middle East and Canada.
The card has been designed for use in retail outlets throughout South Africa to offer consumers increased convenience and speed at the point of sale (POS), while giving retailers the benefit of faster till points and providing a secure alternative to cash. The card can also be used as a transport token in South Africa's new integrated transport system, implemented by the National Department of Transport.
Customers can load money onto their card either using cash or directly from a bank account, via a POS terminal, transit kiosk, Internet banking or an ATM. The balance on the card will be limited to R1500 (USD$210) at any time and a maximum of R3000 ($420) may be loaded on the card per month. Each transaction will be limited to R200 ($28) and the card is also available to customers without an ABSA account.
“We are especially proud to participate in the deployment of the new prepaid MasterCard from ABSA Bank. This card is the first of its kind in South Africa and demonstrates the commitment of both ABSA Bank and Oberthur Technologies to innovation by providing new solutions, which benefit the daily lives of ABSA’s customers” said Julia Schoonenberg, Payment Business Director for Russia, Middle East and Africa, Card Systems Division of Oberthur Technologies.
The card is currently being piloted and will be rolled out early 2011.
About Oberthur Technologies
With sales of 904.6 million euros in 2009 and 6,160 employees worldwide, Oberthur Technologies is a world leader in the field of secure technologies. Innovation and excellence ensure Oberthur Technologies’ strong positioning in its main target markets:
* Card Systems: World’s second largest provider of security and identification solutions and services based on smart card technologies for mobile, payment, transport, digital TV and convergence markets.
* Identity: A world leader in the manufacture of traditional and electronic secure identity documents. We are also a system integrator and a specialist in know-how transfer - census, personalisation platforms implementation and identity data management.
* Security Printing: World’s third largest private security printer specialized in the production of banknotes, checks and numerous security documents in more than fifty countries.
* Cash Protection: World leader in design and manufacture of intelligent cash protection solutions for CIT (Cash In Transit) companies, ATM manufacturers and owners, retailers, post offices and banks.
Close to its customers, Oberthur Technologies benefits from an industrial and commercial presence across all five continents.
Oberthur Technologies S.A. is a limited liability company (société anonyme) registered in France with its registered office at 50 quai Michelet 92 532 Levallois Perret, France. Oberthur Technologies S.A.’s corporate registration number is 340 709 534 R.C.S. Paris.
Website: www.oberthur.com
For media enquiries, please contact:
Oberthur Technologies:
Press Contact: Charlotte LAFONT-MACHIN
Telephone: +33 1 55 46 71 23
Email: c.lafont-machin@oberthur.com
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