Toppan Gravity acquires Latin American payment card manufacturer
UAE-based security provider Toppan Gravity, a Toppan Group company, announced it has acquired Colombian card manufacturer Hogier Gartner & Cía. with the aim of expanding into key markets around the world. Those key markets likely include smart cards with fingerprint biometrics or for digital identity.
According to Juniper Research’s report on payment cards, card distribution in Latin America is projected to grow 67 percent from 2022-2025, the announcement says. The payment card market is also expected to see a 20 percent growth between 2022-2026. By expanding in the region, Toppan Gravity will be able to establish new partnerships and customize payment solutions for the local market.
Hogier Gartner & Cía. prints a variety of cards, such as bank, transportation, and ID cards. It also prints promotional materials such as labels and packaging. The company will be renamed Toppan Hogier S.A.S. in light of the acquisition.
Alvaro Gartner, Hogier Gartner & Cía. CEO, says the “collaboration not only reinforces our dedication to providing top-notch card manufacturing and printing solutions but also unlocks doors to new horizons and opportunities for innovation.”
The acquisition “represents a significant step forward in our mission to deliver state-of-the-art smart cards and payment solutions to our clients on a global scale,” says Toppan Gravity Managing Director Jean-Pierre Ting, who believes the move will “reshape the landscape of the payment solutions industry for years to come.”
Toppan Gravity recently bid unsuccessfully for a contract to produce digital ID cards for Ethiopia.
The company has also been working on biometrics for financial services, with a facial recognition kiosk for banking.