Colombia. Oberthur Technologies presents in Colombia OT MOTION CODE™, an innovative solution that drastically reduces online fraud, which consists of a payment card that incorporates a dynamic security code, which is made visible through a mini screen that automatically updates to the three digits printed on the cards, with all the benefits that this alternative brings.
"Online frauds are growing rapidly around the world and, thanks to our innovation, we support financial and non-financial institutions, merchants and consumers in protecting their transactions," says Paolo Villasco, president of OT for Latin America.
OT is currently in negotiations to develop a pilot plan with some banks in the country and according to this firm, Colombia is a key market for the introduction of technology in Latin America due to the expected annual growth rates of 21% in online expenses per user until 2018, according to projections made by IDC for six Latin American countries, which include Argentina, Brazil, Chile, Colombia, Mexico and Peru. This study reveals significant growth in the region of more than 100 billion dollars, from 2014 to 2018, which means an increase of 117%.
The new OT MOTION CODE™ technology is in use in Mexico, where OT signed an alliance with PROSA, a leading provider of payment processing services in Mexico and Latin America, to offer Mexican banks this solution.
