Network International, the region’s largest payment and processing service provider of credit and debit cards, and Oberthur Technologies, one of the leading suppliers of card-based solutions, have signed a joint venture agreement to create a state-of-the-art cards security and personalisation bureau in the UAE. This will bring the world’s most advanced card security and personalization technology to the Middle East and North Africa region. The bureau is to be ready for operations in August 2008. With a 10 million card capacity in the first year, the scalable site should capture between 30-50 per cent of market share by year five. Current estimates place the MENA card personalisation market at approximately 40-50 million cards.
Network’s current personalisation bureau will be used as a base for the joint venture, upgraded with Oberthur’s leading-edge technology software and personalisation infrastructure.
Announcing the JV, Abdulla Qassem, Chairman, Network International said: “This JV with the one of the world leaders in personalization services, will bring one of the world’s most advanced card security and personalisation technology to the Middle East and North Africa region. Importantly, it marks the first step in many that Network International will take toward fulfilling our mission for operational excellence. Innovation is the cornerstone of all we do, and we shall continue to seek out best-in-class practices and partners who share in our vision to be the region’s most trusted name in cards payment services.”
Mr. Xavier Drilhon, Executive Vice-President, Oberthur Technologies, commenting on the partnership, said: “
“Oberthur Technologies strategy is to continue deploying its worldwide personalization network. We are excited to work with Network International and applaud their insight in creating such a facility. Integrated with our monitoring software, CPS, this new bureau will offer banks and financial institutions the latest in personalization and security applications that will translate into revenues and enhance the customer’s card experience.”
Challenge bolstered by added revenues
The JV marks a shift toward chip-based cards in the market and card schemes stipulation for chip. To assist banks and financial institutions with this shift, the bureau will work closely with clients to maximize their return on investment and improve the overall card user experience. The technological challenges will be addressed through the JV as Oberthur has made significant investments to ensure technological advancements in this sector. Utilisation of chip-based platforms will not only help banks better manage fraud risk and comply with card scheme regulations, but also improve revenues through multi applications that can be written to the chip. Cards personalisation and loyalty programs is seen as a key revenue feature amongst forward-looking global banks seeking improved customer care and protection policies. Chip-based platforms enhance interoperability with multiple application including loyalty schemes, public transport payment, as well as personal identification.
About Oberthur Technologies
With sales of EUR 733.4 million in 2007, Oberthur Technologies is one of the world leaders in the field of secure technologies. Innovation and high quality services ensure Oberthur’s strong positioning in its main target markets:
- Smart cards: One of the world’s leading providers of security and identification based on smart card technology and associated services, such as personalization, for the mobile, payment, identity, digital TV and transport markets.
- Secure printing: The world’s third largest private security printer, specializing in the production and management of high security products such as banknotes, passports, and other identity documents, checks and secured documents in more than fifty countries.
- Cash protection: World leader in the emerging market of equipments for smart cash transportation and ATM protection.
About Network International
Network International LLC, the preferred card solutions provider located in United Arab Emirates, is the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East. It is the only third party processing vendor in the region which is capable of providing banks, the retail industry and financial institutions with complete EMV certified solutions as they migrate to EMV SmartCard technology
www.network.ae
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