Paris, March 21st, 2006 - 7 am: The region's smart card industry is all set to take a giant leap forward following the signing of a MOU between two outstanding card solutions providers. Network International, the region's most comprehensive card solutions provider and Oberthur Card Systems, the worldwide leader in smart card personalization, have come together to provide a host of EMV-Compliant Chip Personalisation Capabilities to the Gulf and Middle East regions.
Abdulla Qassem, Chairman of Network International, said: "We are very excited about our MOU with Oberthur Card Systems. They are pioneers in this field and we are leaders in our own right when it comes to the Gulf region. It marks the coming together of two very big names and the potential for making card services simpler, safer and more accessible is enormous. Network International is delighted to be able to strengthen its leading position in the region by partnering with the global leader, Oberthur Card Systems."
"The strategic alliance will benefit from Network International's deep knowledge of the regional market, skilled personnel and strong commercial presence in the area- relying on production facilities in Dubai, coupled with Oberthur Card Systems expertise in EMV card development - (over 180 million EMV cards shipped), and a proven track record in 150 pilot projects worldwide - and chip card personalization complete solutions. The MOU will ensure that Oberthur Card Systems technology can be delivered as close to clients as possible", commented Thierry Siminger, Oberthur Card Systems' Middle East Africa Director.
EMV migration is one of the more crucial challenges that banks have to face. However, it also provides a good opportunity to reduce fraud and develop flexible and innovative services to improve card holder segmentation, customer retention and card usage.
With the general adoption of the EMV standard, the process of personalizing smart cards is becoming increasingly complex, requiring new skills in the handling of data and the management of keys.
The ability to outsource the personalization of payment cards will allow financial institutions to focus on their core business and spare them from making significant investments.
"With a TAM[1] estimation of 10 million cards in the next two years, Middle East is a key market for us. Oberthur Card Systems continues developing a strategy of alliance with the major players in the field of banking services. Network International naturally appears as the ideal partner in an important and growing market", said Olivier Leroux, Managing Director of Oberthur Card Systems' MARS[2] Region. The Group has devoted substantial resources to the development of payment-based technologies: the deployment of new pre-sales and card configuration tools has significantly reinforced Oberthur Card Systems' attractiveness for partners and has enabled the company to offer unrivalled services to its customers."
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ABOUT NETWORK INTERNATIONAL
Established in 1994, Network International LLC is today one of the leading credit card and payment services providers in the Gulf and Middle East Region geared to meet the needs of Banks, Financial institutions, and large and individual retailers.
The company is a Principal Member of Visa International and MasterCard International offering customers the most comprehensive range of products and services in both the Issuing and Acquiring segment of the card industry, in the Gulf and Middle East region and beyond.
In addition to the processing and management services offered, Network also provides Consultancy services ranging form Planning and designing, to developing of new products and services and providing sponsorship with Visa and MasterCard International.
To date Network International provides credit and debit card processing services, ATM sharing and ATM management services to more than 25 Banks in the region and manages one of the most extensive ATM networks exceeding 130 ATMs.
As a Merchant acquirer in the UAE, Network International enjoys more than 35% of the market share through its network of EFTPOS terminals installed. The company has also established Merchant Acquiring, processing recruitment partnership with third party customers namely American Express, Diners Club, EPPCO, DEWA, Dubai Police, Showtime, Arab Digital Distribution and E Company for E commerce merchant services.
About Oberthur Card Systems
With sales of 500.8 million Euros in 2005, Oberthur Card Systems is one of the world's leading providers of card-based solutions, software and applications including SIM and multi-application smart cards as well as services ranging from consulting to personalization.
Innovative products, security expertise and high quality services ensure Oberthur Card Systems' strong positioning in its main target markets:
E Payment & Services: 53% of 2005 revenues. World leader and number one supplier of Visa and MasterCard payment cards
E Mobile Communications: 32% of 2005 revenues, with open and interoperable solutions based on Java technology.
E Identity: strong positions in ID projects throughout the world
E Multimedia: leading position in the Pay-TV market with an end-to-end expertise in the value chain: software development, manufacturing and personalization
E Transit: focus in the high-end segment with a microprocessor-based offer
Close to its customers, the company benefits from an industrial and commercial presence across all five continents. Listed on the Euronext Stock Exchange (ISIN: FR0000124133) since July 2000, Oberthur Card Systems is a subsidiary of the Franois-Charles Oberthur Group.
For more information, visit www.oberthurcs.com
Issued on behalf of Network International by tamra C2.
For further press information please contact
Khalil Majdalawi on:
Tel. (971) 4 2951177;
Fax: (9714) 2951188.
E-mail: khalil@tamra-c2.com
Oberthur Card Systems
Investors / Press Contact:
Stphanie Cau
Tel: +33 1 47 85 56 57
Mail: s.cau@oberthurcs.com
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Caroline Simon-Phelip
Tel : +33 1 53 70 74 65
Mail: caroline.simon@image7.fr
Tiphaine Hecketsweiler
Tel : +33 1 53 70 74 59
Mail: thecketsweiler@image7.fr
[1] Total Accessible Market
[2] Middle East, Africa, Russia & CIS countries, South America
© Press Release 2006
