Oberthur Technologies, a provider of security and identification solutions and services based on smart card technologies, has finalised its acquisition of Dubai-based Cupola Plastic Cards (view press release). Through the acquisition the companies hope to become the regional leaders in the Middle East and secure a strong presence in a number of African markets. Oberthur Technologies role will consist of offering customers a portfolio of payment cards including EMV cards and dual interface cards for contactless payments, facilitating EMV migration.
In addition, it will also offer solutions such as SmartPIN, where the customer receives his banking card PIN via SMS, which the company claims is interesting as in the Middle East most private addresses are P.O. Boxes.
This acquisition follows Oberthur Technologies recent purchase of Boston-based mobile payments company MoreMagic.