Oberthur said Cosmo Fly v4 M/Chip Advance is a dedicated platform delivering both contact and PayPass contactless payments and other features that will enable a new method of payments for MasterCard and Oberthur Technologies customers.
In addition to various payment-related enhancements, M/Chip Advance also offers Integrated Data Storage capabilities to address the demand for new solutions in sectors such as transit, loyalty, campus and government benefits.
Oberthur Technologies Card Systems Division Cards & Services General Manager Cedric Collomb said that the integration of M/Chip and PayPass on the same platform, using the M/Chip Advance payment card application, will make the roll-out of dual interface cards faster and easier for issuers worldwide.
MasterCard Group Head of Chip Solutions and Engineering Dave Meadon said that Integrated Data Storage provides the capability to enrich payment transactions by incorporating cardholder-and third-party data at the point-of-interaction.
"This will facilitate new partnerships in the payments industry and enable new transaction scenarios to emerge. M/Chip Advance will drive greater utility from payment cards enabling them to achieve ‘top of wallet’ status, a key consideration for all stakeholders in the payments business," Meadon said.
