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| Subject: Sees OpportunitiesPayment and Security, Limited Smart Card Growth in 2003 | |
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Author: Oberthur Card Systems North America Surveys |
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Date Posted: 11:51:00 01/20/03 Mon Number One Bank Card Manufacturer Sees Opportunities in Payment and Security, Limited Smart Card Growth in 2003 CEO of Oberthur Card Systems North America Surveys the Year Ahead Los Angeles, December 18, 2002 -- Philippe Tartavull, CEO of Oberthur Card Systems’ North American division, says that growth in the U.S. card market will be flat in 2003. Industry highlights in the year ahead will include innovations in traditional areas such as magnetic stripe cards and security – but the widespread deployment of microprocessor chip cards by financial institutions will be postponed for at least another year. Banking and payment cards “While banks are, and will continue to be, the card industry’s largest customers, the weak economy will delay their investment in advanced chip cards,” Tartavull warns. “Instead, they will seek ways to build as much value as possible into their existing ATM, payment and credit card offerings. To differentiate their brands and retain customers, banks will offer creative designs that include translucent plastics and imaginative shapes and forms – as with the Discover 2GO card manufactured by Oberthur and launched this year. Oberthur is also helping MasterCard deliver a contactless card that speeds the customer’s point of sale experience in retail environments such as movie theaters and fast food restaurants.“ Oberthur is the number one ATM, Visa and MasterCard manufacturer worldwide according to the October 2002 issue of The Nilson Report. Oberthur is poised to deliver a range of pioneering designs and capabilities in 2003, taking advantage of the company’s unrivalled ability to both mass market and personalize cards for its financial services customers. Identification and security Identification and security applications will be the growth opportunity for the smart card industry, with the U.S. Government leading the way in the adoption of advanced logical and physical access systems, notes Tartavull. “The need to secure key government facilities and other critical infrastructure – including commercial operations such as airports – represents both a major challenge and an opportunity for card manufacturers,” he says. Oberthur is well placed to succeed in this rapidly growing market. The company has announced a security and I.D card agreement with the United States Department of Defense and has finalized contracts with various other U.S. government agencies. -###- About Oberthur Card Systems Oberthur Card Systems, listed on the Euronext Stock Exchange (Euroclear code 12413) since July 2000 is one of the world leading providers of card-based solutions, software and applications including SIM and multi-application smart cards and services ranging from consulting to personalization. Innovative products and high quality services ensure Oberthur’s strong positioning in its three main target markets. Payment: 52% of 2001 revenues. The company is the world leader and number one supplier for Visa and MasterCard. Mobile Communications: 31% of 2001 revenues, with open and interoperable solutions based on Java™ technology. Authentication and Network Security: emerging markets in which the company plays a pioneering role, with strong expertise in security and a dominant position in e-commerce and Pay-TV. Close to its customers, Oberthur Card Systems benefits from an industrial and commercial presence across all five continents. Oberthur Card Systems is a subsidiary of the François-Charles Oberthur Group. For more information, visit www.oberthurusa.com and www.oberthurcs.com. Media contact: Francine Dubois Oberthur Card Systems +1(310)884-7981 francine.dubois@oberthurusa.com Tracy Williams/Jeremy Morgan Casey Sayre & Williams +1(310)458 1224 [ Next Thread | Previous Thread | Next Message | Previous Message ] |