“Financial institutions will have a great opportunity to capitalize on this by easily complementing their card programs without having to make major infrastructure changes to their existing processes,” says the card giant’s Russell St John.
Datacard Group and Dallas Venture Partners have made equity investments in NFC microSD specialist DeviceFidelity. Datacard, whose personalization solutions are used to produce millions of payment cards every day, has also formed a strategic partnership with DeviceFidelity which will see it offering the company’s In2Pay NFC solutions to its clients.
“As NFC technology continues to be adopted throughout the world, financial institutions will have a great opportunity to capitalize on this by easily complementing their card programs without having to make major infrastructure changes to their existing processes,” says Russell St John, senior vice president of global marketing for Datacard Group. “This enables continuity and consistency between issuing traditional plastic cards and new NFC-enabled applications.”
“Our goal is to invest in companies that can transform global markets and we feel that DeviceFidelity is strongly positioned to make a powerful contribution to the growth of mobile financial services throughout the world,” adds Matt Himelfarb, managing partner of Dallas Venture Partners. “We are excited about this investment and we look forward to working with Datacard Group to propel DeviceFidelity’s growth.”
Source: Sarah Clark. “DeviceFidelity raises funds, signs strategic partnership with Datacard” nfcworld.com, February 6th, 2012. http://www.nfcworld.com/2012/02/06/312938/devicefidelity-raises-funds-signs-strategic-partnership-with-datacard/