Oasis Technology, SilverlineÂs CIT
ePayments Division, Giesecke & Devrient, Smart Chip Technologies Inc.,
Ingenico and Cardis announced the formation of an alliance to develop
and market an Internet capable, multi-application smart card payment suite.
Under the project name Solstice, the members will integrate EMV (Europay,
MasterCard, Visa) card payments with loyalty programs and micropayments on a
single microchip. The payment suite also includes merchant, acquiring,
issuing and settlement systems for the physical, virtual, and mobile worlds.
Market analysis and consumer feedback from smart card trials and programs
around the world, point to the benefits consumers see in having one card
combining all their key banking and merchant relationships. In addition,
consumers demand a more secure platform to enable them to confidently
transact with the same card in both the physical and virtual worlds. This is
only possible on a multiple application smart card. It is this collective
analysis, shared vision, and combined expertise that brought these six
companies together in this initiative.
The formation of the alliance is timed to coincide with the imminent rollout
of EMV implementations that will result in the replacement of magnetic
stripe cards with industry standard hybrid chip and striped credit cards.
In addition to much stronger security and authentication, the product suite
will provide opportunities for banks, card issuers, acquirers, major
retailers and service providers to offer cardholders and merchants enhanced
features such as traditional payments linked to loyalty and micropayments.
The card will be designed for use at physical locations, online storefronts
and with mobile devices.
Collectively, the alliance members hold several patents for microchip-based
functions, making the new card one of the first smart cards to house all of
the functionality on the chip. Oasis will provide software to facilitate
merchant and card accounting, switching and settlement in addition to a
virtual credit card. Giesecke & Devrient will provide its smart card,
including embedding and fulfillment; Public Key Infrastructure (PKI) card
applications, security modules and microprocessing knowledge, . SilverlineÂs
CIT ePayments Division will provide PKI security server expertise,
on/offshore development, systems integration and implementation services.
Smart Chip Technologies will provide its patented multi-platform smart chip
loyalty application and Cardis will provide the micropayments engine
capability. Ingenico will provide point-of-sale (POS) devices and support
ÂConsumers are demanding a single secure card for all payment values and
loyalty applications that can seamlessly function in both the physical and
virtual worlds,Â explained Ashraf Dimitri, president and CEO of Oasis
Technology Ltd. ÂSolstice provides consumers with a variety of payment
options including micropayments Â vital to opening the market for digital
ÂThese six companies are committed to the development of a true next
generation smart card offering the most sophisticated levels of security,
consumer payment options and loyalty rewards,Â added James Frye, president
of Giesecke & Devrient, Card Systems, United States and Canada. ÂThe pace
of technology change and the complexities of integration means Solstice will
reduce risks and future proof solutions in the market, so that systems
operators and merchants can focus on their core businesses.Â
The alliance members will initially target North American banks, card
issuers and acquirers and the card associations before expanding their reach
globally. The new card will also be marketed to airlines, retailers, gas
chains, quick service restaurants, and Internet digital content providers.
About The Alliance
The alliance is comprised of six companies
Oasis Technology Ltd is a leading provider of software to facilitate
payments any time, any place on any device. Oasis is the only company
providing payment software for every step of the transaction process for
financial institutions, retailers, card associations or any business focused
on payments. www.oasis-technology.com
Silverline [NYSE SLT] is an international software development and
integration services firm, with over 2,600 software professionals worldwide.
Silverline provides a comprehensive set of eBusiness consulting and IT
services, including strategic consulting, creative design, technology
integration and implementation, as well as management and maintenance of
Internet and legacy applications. CIT, the ePayment division of Silverline,
provides end-to-end solutions and systems integration for ePayments;
electronic banking service delivery for the real, virtual and mobile worlds
of commerce; payment and loyalty based smart card solutions; Public Key
Infrastructure (PKI) security and implementation and professional services
associated with these offerings. www.silverline.com
Giesecke & Devrient (G&D) is an internationally operating technology group.
With nearly 150 years of history, the Giesecke & Devrient of today upholds
their tradition as a trusted leading supplier of banknotes and security
documents; banknote, security paper and currency automation systems; as well
as cards, components and complete multifunctional Smart Card systems for
electronic payments and telecommunications. www.gdai.com
Smart Chip Technologies [OTCBB SCTN] is an end-to-end loyalty and
cause-marketing program solutions provider. SCTN licenses its patented
e-llegiance multi-platform smart chip loyalty application for smart cards
and smart devices, and POS terminals. SCTN also provides complete loyalty
program management, transaction processing, and accounting services through
its LoyaltyCentral software and back office operation. www.sctn.com
Cardis is an innovation and licensing company based in Amsterdam, The
Netherlands. Cardis specializes in advanced smart card payment systems and
has a portfolio of patented innovations. www.sidrac.com
Ingenico Group is the WorldÂs No. 1 supplier of secure transaction systems.
It designs and produces terminals and systems for electronic payment.
Ingenico has invested heavily in Research and Development to achieve
technological advances in both hardware and software, which have greatly
contributed to setting new standards in the industry.