Oberthur to Buy Mobile Financial Services Firm
Oberthur today announced that is has agreed to acquire MoreMagic for an undisclosed sum. MoreMagic's chief product is called Mobile Money, which offers people the ability to make mobile payments, send money to others, as well as receive money on their mobile device. It targets both developed and developing regions. Oberthur, which makes smart card technology found in SIM cards, said that once the acquisition is complete, it will be able to offer a wide range of mobile financial services, including payment and money transfers and NFC-based transactions, to its customers.