The technology company will serve as their trusted service manager (TSM) and deliver an end-to-end technology for their Near Field Communication (NFC) pilot, based on the terms of the agreement.
The company said that following completion of initial trial, the service will be introduced across Chile with 5,000 compatible payment terminals expected by the end of 2013.
The comprehensive NFC technology suite comprises a TSM to deploy and supervise the service over-the-air (OTA), NFC SIM cards, a Mobile PayPass payment application and a convenient mobile wallet allowing consumers to activate their payment cards and check their transactions history.
After activation of Banco Santander’s MasterCard payment card, which will be completely secured by the NFC SIM card, the users can pay for goods simply by tapping the phones onto contactless payments terminals.
Movistar marketing director Paula Figueroa said, "This joint trial with Banco Santander and Oberthur Technologies represents a real step forward in the deployment of NFC in Chile, and more generally across Latin America."
Instituted in 1984, Oberthur Technologies has a work force of more than 6 000 staff, operating through 50 sales offices across five continents, to serve international clients in 140 nations.
