Industry News

Payments giant Cardtek eyes event ticketing sector

Global payment solutions provider Cardtek has identified event ticketing industry as an area of focus as it seeks to take its mobile and wearables expertise into new sectors.

Cardtek develops end-to-end payment solutions for banks, processors, telecom operators, retail and public transit services – serving over 150 customers across 28 countries worldwide.

Having this month become a member of the OSPT Alliance, an international association chartered to provide the standard for secure transit fare collection solutions, it now plans to develop and implement host card emulation (HCE) and near field communications (NFC) mobile ticketing solutions, based on OSPT Alliance’s CIPURSE Specification.

But while already being a leader in transport and other sectors, Erdal Yazmaci, the co-founder of Cardtek, told The Ticketing Business that the company is intrigued by the possibilities offered by event ticketing.

He said: “There are a number of industries that are currently transitioning to more modern payment systems that leverage the use of NFC-enabled wearable wallets. The event-ticketing industry can utilize NFC-enabled wearables to build ‘open-loop’ payments systems that not only speed transaction times, but also enhance consumer convenience and security.”

Cardtek was founded in 2001 and recently opened an office in Silicon Valley. Cardtek developed the first contactless credit card back in 2006 with Garanti Bank.

The company added: “Cardtek can provide the infrastructure, mobile industry knowledge, and operational services to help the event-ticketing industry transition to a more modern, smart solution where consumers can quickly and safely make payments.”

Image: Cardtek

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