UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, and OT (Oberthur Technologies) have partnered to launch “gocash” prepaid card of UAE Exchange through the first-ever contactless payment via wearable devices (powered by “Flybuy MiniFOB” technology of OT), at the Seamless Middle East Conference in Dubai on 01 May 2017.
UAE Exchange will be offering the wearable contactless payment option to select 100 gocash prepaid card customers, each loaded with a 100 AED balance, across the United Arab Emirates.
Flybuy MiniFOB technology is a mini contactless card of dimension 2FF SIM-size 15x25mm, including an antenna and a chip with payment functionality. The MiniFOB can be inserted into a prepaid card, silicone, leather wristband, a key chain, jewellery, fitness trackers, watches or any other wearable item / device. The card uses Mastercard contactless functionality and is developed by OT, a leading global provider of embedded security software products and services and an award-winning innovator in the payment sector.
A special piece (keeper) will be provided along with the standard Dual Interface gocash card that will hold the MiniFOB chip. Customers can attach it to their watch, wristband or any wearable item, thus, allowing a seamless, secure and stylish payment option on the go.
Promoth Manghat, Chief Executive Officer, UAE Exchange Group, said: “Contactless payment through wearable devices is soon going to be a common practice. It will simplify the entire payment journey and experience as it offers customers hands-free convenience while saving time. We are glad to partner with Oberthur Technologies for our gocash card, which will have the special contactless chip and provide our customers with a faster and convenient mode of payment.”
Cedric Collomb, Head of Global Offer & Indirect Sales of Financial Services Institutions activity at OT said: “The global market of wearables is nascent and has huge growth potential over the coming years. With its leading position in the payment field, OT is a key and trusted partner to offer wearable payment solutions; thanks to its comprehensive portfolio of products which can answer a full range of customer requirements. We are glad to partner with UAE Exchange, which shares our progressive vision of bringing value to the table, which will enhance customer experience.”
About UAE Exchange
UAE Exchange commenced its operations in 1980. Today, it has grown into a leading global remittance, foreign exchange and payment solutions brand. Headquartered in Abu Dhabi, the brand has spread its footprint worldwide.
With close to 800 branches across 31 countries in 5 continents, it has emerged as the widest globally networked remittance brand. Strong correspondent banking relationship with over 140 global banks and smart technology add to its might. Over 9000 professionals, representing 40+ nationalities, strive to achieve excellence and bring delight to more than 15 million customers worldwide. UAE Exchange is an ISO-certified brand and a member of prestigious global associations, recognised and awarded for its quality and business excellence. For more information about UAE Exchange, visit www.uaeexchange.com.
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 6 500 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 169 countries. For more information: www.oberthur.com
Source: Oberthur Technologies