ID Data, a supplier of secure transaction systems and smart card services to the international telephony, banking, retail and secure access sectors, announced its first direct sale of chip phone cards with an order worth £1 million.
The order, placed by a corporate customer, demonstrates ID Data’s ability to penetrate the phone card market and offset the decline in orders from the original supply contract with Marconi. This latest order marks an important stage in the progress of the company as it seeks to increase its higher-margin direct sales in addition to orders made through telecom resellers.
Furthermore Marconi has placed additional orders worth £1 million for pay phone cards to be delivered during the fourth quarter of year ending 31 March 2001.
Commenting on the current order position, Peter Cox, Chief Executive said, “We are in a period of solid sales achievement and are seeing the positive results of our previous investment in both sales and development turning into valuable contracts. These sales will help to reduce ongoing trading losses, which have included the development costs associated with the company’s transition to provider of secure solutions both directly and through its global channel marketing partners.”
ID Data, which is targeting global telephony business in both the fixed and mobile sectors, is seeing the market for GSM SIM cards showing new momentum after a period of overstocking and reduced subscriber sales. The Company is also developing solutions for the banking and retail sectors including secure products for money transfer.
For further information, please contact:
ID Data Plc
Peter Cox, CEO
Tel: +44 (0) 1536 207 000
Bankside Consultants Limited
Henry Harrison-Topham / Russell Elliott
Tel: +44 (0) 20 7444 4140
Notes to Editors:
ID Data Plc
ID Data Plc ("ID Data") is a supplier of secure transaction systems and smart card services to the international telephony, banking, retail and secure access sectors. The Company’s strategy, to move from commodity products to value-added services and solutions, has created a solid platform on which to build further growth. The Company’s clients include BT and Cable & Wireless, Barclays Bank, Tesco, and Exxon Mobil. ID Data has formed agreements with major global corporations to facilitate rapid market development including partnerships with Toshiba and Toppan. The Company has delivered in excess of 7 million chip cards to the banking market in the UK, giving it an estimated 32% market share after less than 18 months. Chip cards are replacing magnetic-stripe technology due to their much larger data capacity and ability to handle multiple applications. ID Data was founded in 1988 and was listed on the AIM in October 2000.
This press release was distributed by ResponseSource Press Release Wire on behalf of Lothbury Financial in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.