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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 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 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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Posted by Janeta Novakovic, Assistant News Editor
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