PARIS--(BUSINESS WIRE)--Oberthur Technologies, the world's second largest provider of smart card based solutions, has announced today the development of MasterCard’s M/Chip™ Advance on the Cosmo Fly v4 platform, its brand new range of dual interface card products.
Cosmo Fly v4 M/Chip™ Advance is a dedicated platform (based on the latest version of the JavaCard™ standard) delivering both contact and PayPass™ contactless payments and other key features that will enable a new generation of payments for MasterCard and Oberthur Technologies customers.
“The integration of M/Chip™ and PayPass™ on the same platform, using the M/Chip™ Advance payment card application, will make the roll-out of dual interface cards faster and easier for issuers worldwide”, said Cédric Collomb, Cards & Services General Manager of the Card Systems Division at Oberthur Technologies. “Oberthur Technologies is dedicated to creating solutions that generate additional value and convenience for its customers which include issuers, transport operators and loyalty providers”, he added.
In addition to a number of payment-related enhancements, M/Chip™ Advance also offers Integrated Data Storage capabilities to address the demand for new solutions in sectors such as transit, loyalty, campus and government benefits.
Dave Meadon, Group Head, Chip Solutions and Engineering at MasterCard Worldwide commented: “Integrated Data Storage provides the capability to enrich payment transactions by incorporating cardholder-and third-party data at the point-of-interaction. This will facilitate new partnerships in the payments industry and enable new transaction scenarios to emerge. M/Chip™ Advance will drive greater utility from payment cards enabling them to achieve ‘top of wallet’ status, a key consideration for all stakeholders in the payments business”.
Cosmo Fly v4 featuring M/Chip™ Advance demonstrates Oberthur Technologies and MasterCard’s commitment to innovation.
About Oberthur Technologies
With sales of 904.6 million euros in 2009 and 6,160 employees worldwide, Oberthur Technologies is a world leader in the field of secure technologies. Innovation and excellence ensure Oberthur Technologies’ strong positioning in its main target markets: security and identification solutions and services based on smart cards ; manufacture of traditional and electronic secure identity documents; security printer specialized in the production of banknotes, checks and numerous security documents; design and manufacture of intelligent cash protection solutions for Cash In Transit and ATMs.
About MasterCard Worldwide
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2009, $2.5 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 22 billion transactions each year, has the capacity to handle 140 million transactions per hour, with an average network response time of 140 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl™. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.
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