Business Wire India
Oberthur Technologies (OT), a leading global provider of embedded security software products and services, today announced its selection by Mondaine, a leading player in the watch industry, to offer watch contactless payments firstly in Switzerland, by providing the world’s first contactless payment chip the size of a SIM card for the watch market.
OT’s pay chip is independent from the watch as it is inserted into the watch band or loop and can be easily removed and inserted with another watch, allowing consumers to always have their ‘OT credit card’ with them on the wrist.
“We are very pleased to launch this new product in the watch country by excellence” commented Eric Duforest, Managing Director of the Financial Services Institutions Business at OT “This demonstrates our commitment to innovation and to offering high-end wearable products. This state-of-the-art product will enable banks to propose an enhanced value proposition to their cardholders, including the convenience of contactless payment”.
“Today, we are extremely proud to be able to make a new step into the world of connected watches. The contactless payment device from OT which Mondaine can launch exclusively is a clear statement of the family owned company (since 1951) to be at the forefront of technology. The Mondaine pay chip inside our watch strap, provided by OT, allows the consumer not only to be independent of its wallet but also to switch the pay chip between watches. This definitively gives us advantages over our competitors in the watch and mobile industry” said André Bernheim – CEO Mondaine.
ABOUT OBERTHUR TECHNOLOGIES
OT is a world leader in embedded digital security that protects you when you connect, authenticate or pay.
OT is strategically positioned in high growth markets and offers embedded security software solutions for “end-point” devices as well as associated remote management solutions to a huge portfolio of international clients, including banks and financial institutions, mobile operators, authorities and governments, as well as manufacturers of connected objects and equipment.
OT employs over 6 300 employees worldwide, including almost 700 R&D people. With a global footprint of 4 regional secure manufacturing hubs and 39 secure service centers, OT’s international network serves clients in 140 countries. For more information: www.oberthur.com