Bloomberg News

Gemalto Rises Most in Four Months on Agricole Order: Paris Mover

January 31, 2012

Jan. 31 (Bloomberg) -- Gemalto NV, the world’s largest maker of smartcards, jumped the most in four months in Paris trading after Credit Agricole SA selected the company for the deployment of contactless banking cards in France.

The company’s shares rose as much as 4.9 percent, the biggest intraday increase since Sept. 27, to 40.45 euros, the highest level in more than 7 1/2 years.

Gemalto said today that Credit Agricole, France’s third- biggest lender by market value, will use its Optelio contactless EMV, or Europay, MasterCard and Visa, banking card for the French market.

The card can be used for a new payment system where users wave or tap it in front of a contactless reader at the point of sale for purchases under 20 euros, with transactions above that requiring a pin code. The Credit Agricole order opens the door to more such deals, Gemalto said in the statement.

Gemalto didn’t say how big the Credit Agricole order was.

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net


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