FutureCard sets eyes on 20% growth for 2014

April 19, 2014 4:23 pm

FutureCard, the UAE-based expert in design, manufacture and customisation of all types of cards, announced that it is targeting a 20% growth in its business for 2014. With a newly opened operations centre in Dubai’s Business Bay district and a new factory under construction in Jebel Ali that will produce basic plastic to the most advanced smart cards on the market, the company is gearing up for expansion to surpass its 2013 production of 535 million cards.

“We believe that our goal to achieve 20% growth in card manufacturing is entirely realistic based on our performance in 2013 and the increasing demand for banking cards,” said Ayhan Yalcintas, CEO, FutureCard.

“The first quarter of 2014 saw us serving our customers from our new office in Dubai, located in the Burj Khalifa area of Business Bay. To meet the increase in demand for our cards, we have started construction of a new card manufacturing facility in the Jebel Ali area of the emirate, which will be open in 2015,” he added.

The projected growth for FutureCard – the only card manufacturer in the UAE to offer the regional banking sector full card solutions for security, global acceptance, rewards and technology – is based on the company’s strong performance over the past 12 months and a renewed global focus on banking security. For 2013 the Company ramped up its security offerings for customers, successfully attaining the Payment Card Industry Data Security Standard (PCIDSS) certification in September. The certification is regarded as the most important security standard for the global card payment industry.

“FutureCard responded to customer demands for increased security by adding additional products and services to our card portfolio for 2013. This helped us expand our ID business segment, increase our banking product offerings and provide even more personalisation services during the year,” said Yalcintas.

“2013 was also important for us because we were able to achieve the PCIDSS accreditation and alsoparticipate as the sole UAE representative at the CARTES Secure Connexions Event in Paris last November – the world’s leading forum for card security,” he added.

Underpinning FutureCard’s progressive growth strategy has been its continued investment in machinery and advanced technology. The company invested in state-of-the-art manufacturing equipment, which has enabled it to provide a product line-up with more innovative features and facilitate quicker delivery lead times across all segments. The investment in 2013 enabled the company signing new contracts in SIM card business, as well as enabling it to add significant new accounts to its commercial and loyalty-related card category.

“We are now operating an extremely advanced card production facility. Our technology offers flexibility in the card personalisation process that ultimately benefits our customers,” said Yalcintas. “The demand for card personalisation is increasing each month, so it is important to enhance our ability to quickly deliver products to our customers. FutureCard will continue to invest in technology and innovative processes in order to maintain our position as one of the leading global players in the industry.” he added.

Serving over 1,000 customers in over 80 countries around the world, the company’s revenues came mainly from Middle East, Africa and Europe.