The transition to electronic chip cards for payment of U.S. accelerates. A paradise for world leaders such as Gemalto and Oberthur
The attack was unprecedented. For more than fifteen days, from November 27 to December 15, 2013, nearly 100 million credit card holders, clients of the U.S. retail chain Target, have hacked their accounts. The shock wave has overtaken the entire financial sector. Several banks have immediately decided to limit the use of maps of their customers for withdrawals at ATMs or for purchases in stores. Unwelcome in the midst of shopping extent, between Thanksgiving and Christmas. The cyber attack that precipitated the mutation
U.S. authorities have been quick to react. Surveys have shown that hackers based on the side of Ukraine, had been able to recover all the information embedded in the cards. They also confirmed that the system tape which equips almost all credit cards and U.S. credit pose a low security level. "The United States had planned to gradually migrate to the electronic chip. The attack had the effect of accelerating the mutation "is satisfied boss Oberthur Technologies, Lamouche. This week, the French American tour was to meet new clients. It goes back to the U.S. market its biggest rival, Gemalto, the world number one, also French, who intends to take advantage of this technological transition to high commercial potential.
With 1.2 billion payment cards in circulation and more than 50 million of them equipped with a chip , the U.S. market is a wonderful paradise . "We think the next two years , half of the cards have been converted ," predicts Lamouche . The two French heavyweights began to reap lucrative contracts . Wells Fargo, the fourth U.S. bank, Oberthur , payment cards of UN personnel to Gemalto. Another French actor is also set, Morpho , Safran subsidiary of the giant , which already has ten banks among its clients. With 14,000 banks listed on U.S. soil , everyone is entitled to his share. "The customer distribution groups , also offering credit cards to their customers, is also significant ," says Sylvie Gibert , Marketing Director of Gemalto , which achieved 2.2 billion euros turnover of the last year, with growth of 20 % of the activity cards.
After conquering the world leader , win the Atlantic would be a victory for the two Frenchies . " This is because the chip was not designed in the United States that Americans have been so reluctant to adopt it as standard ," said Didier Lamouche . It explains the successes and Gemalto , Oberthur , born from the merger of Axalto and Gemplus in 2005 by several factors: the mastery of technology, family shareholders visionaries, voluntarism internationally and the opportunism to participate in industry consolidation . AxaltoGemplus marriage is an illustration . "That's what was missing , for example, European manufacturers of telephony, which failed to come together ," analyzes the CEO. A similar scenario expected for China
In the United States , both French were able to invest and wait for the opening last profile. Oberthur , now owned by an investment fund , has three outreAtlantique plants, and is established in 1996. Gemalto has a manufacturing plant in Pennsylvania. The potential U.S. does not lose sight of the French groups another huge market : China. "It is three times larger than the United States because there should ultimately employ 3 billion payment cards ," says Sylvie Gibert, Gemalto . China is , too, engaged in an accelerated towards the chip mutation.