VIDEO INTERVIEW: Didier Lamouche, CEO of French mobile security firm Oberthur, explained that the company, which decided to drop plans for a major IPO in November, is still not prepared to go through with one, as he spoke about the challenges around IoT (Internet of Things) and the evolution of its smart cards business.

“Have you looked at the equity market recently? Launching an IPO is like a sailboat getting out of the harbour… you don’t get out when the sea is stormy,” he told Mobile World Live, adding that the conditions are not appropriate right now.

He believes the firm’s core business around smart cards  – where it is the sector’s second largest player – will evolve in a “smooth and natural way,” and is working on the launch of new biometric technology so that consumers don’t have to worry about remembering pins. That technology will then move to wearables, hopes Lamouche.

On the subject of IoT, an area of strong focus for the company, security will be “the main element” that will determine whether adoption of the technology will take place or not, and “the largest challenge,” he said.

Connected and driverless cars is the next sector to “conquer and explore” in this space, which will not be possible without firms like Oberthur providing security, claimed Lamouche.

Oberthur is also a major player, along with Gemalto and Giesecke & Devrient, in the mobile payments market. It is a key supplier behind Samsung Pay’s launch in Europe. Lamouche described Samsung’s progress so far as going “extremely well.”

Click here to view the full interview.