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Gemplus Chosen by Commonwealth Bank of Australia for First MasterCard PayPass Pilot
Luxemburg (ots/PRNewswire) -
- CBA Cardholders to use the MasterCard-Approved Product, GemInstant
Gemplus International S.A. (Euronext: LU0121706294 - GEM and NASDAQ: GEMP), a world leading provider of secure card-based solutions, announces its involvement in Australia's first MasterCard PayPass pilot program, where Commonwealth Bank of Australia's (CBA) cardholders will simply place their card in front of the terminal to make a payment.
The six-month trial will be rolled out in New South Wales, with the first phase involving 33,000 CBA cardholders who will be able to use their MasterCard PayPass cards at more than 150 participating merchants. Shops include fast food restaurants and convenience stores for payments under A$35. Cardholders will not need to enter a PIN or sign a receipt, resulting in faster transaction times and therefore reducing queuing time for customers at the store and improving the service.
When the card is placed before the reader, the reader beeps to let the cardholder know that the card has been read and payment has been made. The security remains as high as for a traditional credit card.
Gemplus provided the GemInstant cards for this project. GemInstant is a range of contactless payment solutions already tried and tested in other parts of the world. "We knew that Gemplus's expertise in contactless technology goes back over 10 years and it has real international coverage when it comes to contactless payment" said Mr Scott Henricks, General Manager, Consumer Financing & Relationship Marketing, Retail Banking Services Commonwealth Bank.
Gemplus has been present in the Australian market for many years, which was reinforced in 2000 by setting up a local joint venture, LM Gemplus Pty Ltd. Since then, the company has established successful long term relationships with its clients and continues to invest in local technical support and solutions tailored for the Australian environment. This local presence was a factor in their selection by CBA for this project.
"Contactless payment is becoming an international trend and innovative banks such as CBA want to be the first to provide their customers with this convenient way to pay" commented Philippe David, Vice President, Business Development, Financial Services, Gemplus. "We are showing once again our commitment to innovative projects by being involved in Australia's first MasterCard PayPass pilot after successful implementations in America, Europe and Asia".
- A$35 is equivalent to US$25.
Gemplus International S.A. (Euronext: LU0121706294 - GEM and NASDAQ: GEMP) is a world leading player in the secure card industry in both revenue and total shipments (source: Gartner-Dataquest 2005, Frost & Sullivan, Datamonitor). It has sold billions of smart cards and other secure cards.
Gemplus delivers a wide range of portable, personalized solutions in areas including Identity, Mobile Telecommunications, Public Telephony, Banking, Retail, Transport, Healthcare, WiFi, Pay-TV, e-government, and access control.
Gemplus' revenue in 2005 was 939 million Euros.
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Some of the statements contained in this release constitute forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed or implied by such forward-looking statements. Actual events or results may differ materially. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this release include, but are not limited to: trends in wireless communication and mobile commerce markets; our ability to develop new technology, and the effects of competing technologies developed and expected intense competition generally in our main markets; profitability of our expansion strategy; challenges to or loss of our intellectual property rights; our ability to establish and maintain strategic relationships in our major businesses; our ability to develop and take advantage of new software and services; and the effect of future acquisitions and investments on our share price. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such forward-looking statements. The forward-looking statements contained in this release speak only as of this release. We are under no duty to update any of the forward-looking statements after this date to conform such statements to actual results or to reflect the occurrence of anticipated results.
ots Originaltext: Gemplus
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