COLOMBES, France - Thursday, March 19th 2015 [ME NewsWire]
(BUSINESS WIRE)-- Oberthur Technologies (OT), a world leader in digital security solutions for mobility, today announced it was investing in its manufacturing hub in Shenzhen in order to gain additional production capacity for its display and dynamic CVV (dCVV) cards.
In November 2014, OT announced the availability of the first payment card integrating dynamic security codes in order to secure online transactions, by managing to integrate this complex electronic set-up into something as thin as a credit card. Connected in real time to a server, the solution developed by NagraIDS and OT engineers enables a regular modification of the CVV security code. This patented display card technology will transform the payment card industry, making online transactions significantly more secure without any additional constraints for the end-user.
In order to meet market expectations, OT is investing in its manufacturing hub in Shenzhen, which is strategically located at the heart of one of the largest global electronic ecosystems. This state-of-the-art facility is one of OT’s most important industrial facilities, covering all types of products in all markets (Payment, Identity and Telecom). In order to continue offering local services to clients, OT will also personalize these cards throughout its global network of service centers.
“There is a constant increase in online fraud all around the world. Our Motion Code product (dCVV) is a formidable tool to counter this and there is already strong interest from the market and from our customers. Initial deployments and trials are expected in Q2 2015”, said Eric Duforest, Managing Director of OT’s Payment Business Unit. “We want to deploy this technology rapidly so that it becomes a worldwide standard for secure payments, contributing to reducing fraud and improving end-users’ trust in online payments and services. By investing in our manufacturing hub in Shenzhen, we will be able to meet market demand for this type of innovative payment card”.
ABOUT OBERTHUR TECHNOLOGIES
OT is a world leader in digital security solutions for the mobility space. OT has always been at the heart of mobility, from the first smart cards to the latest contactless payment technologies which equip millions of smartphones. Present in the Payment, Telecommunications and Identity markets, OT offers end-to-end solutions in the Smart Transactions, Mobile Financial Services, Machine-to-Machine, Digital Identity and Transport & Access Control fields. OT employs over 6 000 employees worldwide, including close to 700 R&D people. With more than 50 sales offices across 5 continents and 1 manufacturing hub by region, OT’s international network serves clients in 140 countries. For more information: www.oberthur.com
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