Oberthur Technologies, a provider of contactless payment technologies, has seen an increase in the demand for its contactless sticker product, FlyBuy Sticker, with banks and issuers throughout the United States – including Citi®, which started issuing Oberthur-manufactured Stickers in June, and several other issuers internationally in Switzerland, Poland, England and Korea.
Approved and developed in cooperation with MasterCard Worldwide over a year ago, Oberthur Technologies’ FlyBuy Sticker is a contactless payment device that can be attached to a mobile phone or MP3 player, allowing the end user to choose their very own personalized payment device. To pay, the cardholder simply needs to place the device with the Sticker attached in front of the contactless reader. It can be tied into the customers’ existing bank account and used as a normal payment card at any Point-of-Sale terminal accepting contactless.
“MasterCard has been at the forefront of contactless technology and we see payment tags as an important bridge to help stimulate consumer demand and facilitate the development of a sustainable mobile payments system”
MasterCard has provided issuers with its branded contactless payment option, MasterCard® PayPass™, since 2004 and were the first payment brand to approve stickers for widespread use. “MasterCard has been at the forefront of contactless technology and we see payment tags as an important bridge to help stimulate consumer demand and facilitate the development of a sustainable mobile payments system,” said Geoff Iddison, MasterCard Group Executive, e-Commerce and Mobile. “By offering issuers a product that can be attached to any mobile phone, regardless of service provider or hardware vendor, we’re not only promoting the use of contactless but also speeding up transaction times and demonstrating to consumers the value of contactless for everyday transactions over cash.”
The use of contactless stickers also provides a fast to-market opportunity for issuers looking to reach the coveted 18-34 demographic. “A recent Synovate survey found that most people, if given a choice, would rather lose their wallet than their cell phone,” said Martin Ferenczi, Managing Director, Americas, Card Systems Division at Oberthur Technologies. “Oberthur Technologies continually strives to meet the demands of its customers, and the FlyBuy Sticker provides a real, innovative and viable option for customers looking for a more convenient way to pay and for issuers to find a great top of wallet option.”