Today, the mobile phone increasingly represents a cost-effective solution to increase access to commerce and financial services both in the developed world and in the emerging markets. Mobile Money services offer secure and convenient means for banked and unbanked people to pay, send and receive money, everywhere at any time. The arrival of NFC technology will foster even more these services. Over the last years, Oberthur Technologies has actively engaged in both NFC and Mobile Money solutions, and recently won a key reference in Czech Republic in technological partnership with MoreMagic.
Combined, the technological capabilities of Oberthur Technologies and MoreMagic will create a comprehensive mobile money services suite including secured end-to-end payment and money transfer services helping mobile operators and financial institutions to offer innovative financial services in mobility such as proximity, remote payment and mobile banking.
Xavier Drilhon, CEO of Oberthur Technologies: “The acquisition of MoreMagic is fully in line with our growth strategy notably in our Solutions business and more specifically in the NFC eco-system. The complementarities between our respective technological bricks and Oberthur Technologies’ TSM expertise will perfectly fit the needs of our clients, in both mature and developing countries.”
This acquisition remains subject to the consultation of employees work council and other customary approvals, including from relevant antitrust authorities.
