Oberthur Technologies Associates With Valitor and Visa Europe for Iceland's First Mobile Payments Project

NANTERRE, France, October 24, 2011 /PRNewswire/ --

Oberthur Technologies, the world's second largest provider of security and identification solutions and services based on smart card technologies, announced today that the company has partnered with Visa Europe and Valitor to launch Iceland's first mobile contactless payment project.

Using Oberthur Technologies' SIM card, which provides integrated support for NFC (Near Field Communications) to power mobile contactless payments, the partners will work with Iceland's key mobile network operators, to select 1,000 participants for the initial adoption in January 2012.

The full-scale pilot will begin in the second half of 2012. Due to Valitor's established relationship with the Icelandic banks, combined with 600 mobile contactless Point of Sale terminals already existing in the greater Reykjavik area, this new technology will be easily available to the majority of the country's population.

The partners chose Iceland as the ideal test market for the project based on the size of its population and its concentration in the Reykjavik area. Combined with high mobile and card penetration, Iceland's population profile will enable the partners to monitor cardholders and retailers responses to mobile contactless payments ahead of the full commercial deployment programmed by end 2013.

Supporting partner quotes:

Vidar Thorkelsson, CEO at Valitor: "We have been cooperating closely with Oberthur Technologies and Visa EU for many years. With this new agreement, we reinforce our willingness to have the necessary support and expertise in implementing Iceland's first mobile contactless payments trial. This new technology will soon become a reality for all the citizens, who will experience the convenience, security and speed of mobile contactless payments."

Mr. Fredrik Westerman General Manager, Nordics and Baltics, Visa Europe:  "Iceland is one of our most successful markets. The size of the market and high card penetration makes Iceland an ideal test environment to drive our ambition to help realise the future of payments."

Eric Duforest, Europe Managing Director, Oberthur Technologies:  "With more than 15 years of experience in this market, we are aware that the Icelandic population is a pioneer in adopting new technologies and new methods of payment. At Oberthur Technologies, we are strongly promoting NFC technology which combines both straightforward usage and high security."

About Oberthur Technologies

Oberthur Technologies is a world leader in the field of secure technologies: systems development, solutions and services for smart cards (payment cards, SIM cards, access cards, NFC…) and for secure identity documents, traditional and electronic (identity card, passport, health care card), production of banknotes, cheques and other fiduciary documents, intelligent systems to secure cash-in-transit and ATM. Oberthur Technologies has 6,800 employees through 40 countries and 65 sites. The Group posted 2010 sales of €979M.

Website http://www.oberthur.com

About Valitor

VALITOR is a technology company in the field of financial services operating on the international arena and which places an emphasis on trust, leadership and initiative in its operations. The role of VALITOR is to offer merchants and banks safe and swift services and thus contribute to successful business practices. Valitor has been a leader in the Icelandic card market for over 20 years, offering acquiring and issuing services to the  community.  Since 2003 Valitor has increasingly been building business relaitons in most European countries through its cross-border acquiring services. The company has also been active in the prepaid field, offering issuing and processing services to program managers in Europe.

About Visa Europe

As a leader in the development and implementation of payments technologies, Visa Europe is at the forefront of contactless and mobile payment innovation in Europe.

Visa Europe is owned and operated by more than 4,000 European member banks and was incorporated in July 2004. In October 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe. As a dedicated European payment system it is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission's objective to create a true internal market for payments. For more information, visit http://www.visaeurope.com