CHANTILLY, Virginia, January 14 /PRNewswire-FirstCall/ -- Oberthur Technologies, the world's second largest provider of smart card based solutions, has acquired the payment card personalization assets of Dyetron S.A., a provider of smart card-based technology solutions for the transportation, communications, government and financial sectors.
Oberthur Technologies and Dyetron formed a partnership in June of 2009, utilizing Dyetron's local presence and Oberthur's end-to-end common personalization system, to create a service center that could assist with Colombia's migration to EMV- which was scheduled to start at the first of this year. Oberthur is now leasing the Bogota-based, MasterCard and Visa certified service center. The service center, which will operate under the name Oberthur Technologies Ltda., offers seamless migration for local banks and easy EMV deployment for international banks with customers in Colombia.
"As a global provider of payment solutions, Oberthur Technologies is committed to the Colombian and South American payment markets," said Martin Ferenczi, Managing Director, Americas, Card Systems Division of Oberthur Technologies. "By leveraging our expertise in providing over 200 EMV migrations worldwide, we see this acquisition as a focused solution to meet the needs of our banking customers in Latin America."
Colombia's Superintendencia Financiera imposed a January 1, 2010 deadline for issuers and merchants to migrate to EMV- the global electronic transaction specification that outlines interaction between chip (smart) cards and merchant terminals to ensure worldwide inter-operability. EMV reduces fraud that can occur on standard magnetic stripe debit cards. After this deadline, the liability over fraudulent transaction rests solely on the party that hasn't upgraded to EMV- whether the issuer or the merchant.
Arturo Sesana, General Manager for Dyetron, has agreed to assist Oberthur Technologies during Colombia's EMV migration. "Oberthur Technologies will make the migration to EMV for local banks and credit unions an easy and painless one," Sesana said, adding "Oberthur Technologies is one of the first international companies investing in the future of Colombian payments market. Their experience will significantly help in EMV migration."
About Oberthur Technologies
With sales of 882 million Euros in 2008, Oberthur Technologies is a world leader in the field of secure technologies. Innovation and high quality services ensure Oberthur Technologies' strong positioning in its main target markets:
- Card Systems: The world's second largest provider of security and identification based on smart card technology and associated services for mobile, payment, transport, digital TV and convergence markets. - Identity: Leading international supplier for the manufacture and personalization of secure identity documents such as passport, identity card, driving license or health care card - traditional and electronic - and associated services for both governmental and corporate markets. - Security printing: World's third largest private security printer specialized in high security for the production of banknotes, checks and other fiduciary documents in more than fifty countries. - Cash protection: World leader in the emerging market of intelligent systems to secure cash-in-transit and ATM.
Close to its customers, Oberthur Technologies benefits from an industrial and commercial presence across all five continents.
SOURCE Oberthur Technologies