OaSIS TECHNOLOGY, SILVERLINE, Giesecke & Devrient, Ingenico, Smart chip Wednesday 9 May 2001 PDF Print OaSIS TECHNOLOGY, SILVERLINE, Giesecke & Devrient, Ingenico, Smart chip TECHNOLOGIES & CARDIS TO DEVELOP MULTI-APPLICATION SMART CARD SUITE Debit, credit, micropayments and loyalty integrated on a single microchip AMSTERDAM and TORONTO, May 9, 2001-Oasis Technology, Silverline's CIT ePayments Division, Giesecke & Devrient (G&D), Smart Chip Technologies Inc., Ingenico and Cardis today 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, . Silverline's 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 systems. "Consumers are demanding a single secure card for all payment values and loyalty applications that can seamlessly function in both the physical and virtual worlds," explained Ashraf Dimitri, president and CEO of Oasis Technology Ltd. "Solstice provides consumers with a variety of payment options including micropayments - vital to opening the market for digital content providers." "These 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," added James Frye, president of Giesecke & Devrient, Card Systems, United States and Canada. "The 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." 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-llegianceä 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 LoyaltyCentralä 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 World's 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. www.ingenico.fr <http://www.ingenico.fr> For further information: Neil Parmenter, Oasis Technology 416-228-8000 ext. 2324 email@example.com Richard Bevis, Silverline 732-584-5828 firstname.lastname@example.org Ray Ayotte, G&D 905-946-2803, email@example.com Richard Hauge, Smart Chip Technologies, Inc 408-225-8074 firstname.lastname@example.org Robin Townend, Cardis BV +44 1328 830125 email@example.com Caroline Brochard-Garnier, Ingenico Group 33 (0)1 46 25 82 56 cbrochard This press release was distributed by ResponseSource Press Release Wire on behalf of Silverline Technologies in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.