UAE Exchange Partners with Oberthur Technologies to Launch Wearable Contactless Payments

COLOMBES, France–(BUSINESS WIRE)–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
.”

Visit Stand #M10 at Seamless
Payments
in Dubai International Convention & Exhibition
Centre from 1-2 May 2017 to know more on the premium cards and payment
solutions.

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.

Engage with UAE Exchange on:
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UAE
Exchange Blog

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

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Contacts

Elan Edelman
Chloé Tisseuil, +33 1 86 21 50 54
chloe.tisseuil@elanedelman.com