Oberthur Technologies acquires MoreMagic

Creating a suite of mobile commerce and financial services solutions

Oberthur Technologies, a provider of security and identification solutions and services based on smart card technologies, is acquiring Boston based mobile payments company MoreMagic (view press release). In collaboration, the two parties aim to create a suite of mobile commerce and financial services solutions, incorporating a mobile wallet infrastructure and end-to-end NFC technology. The solutions are designed to enable mobile operators, financial institutions and various non-telecom service providers to offer services such as P2P transfers, mobile banking, proximity and remote payments.

“For MoreMagic, this is an exciting next step in line with our already existing and successful partnership with Oberthur Technologies,” said Pankaj Gulati, CEO of MoreMagic. “We now have the ability to deploy end-to-end, secure, turnkey solutions and provide cloud based services in the mobile financial services space.”

MoreMagic’s products and services will now be available through Oberthur Technologies’ global sales network as part of its solutions portfolio.

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