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| Subject: Re: The Multi-Network Rewards Solution CAT Welcome Visathe first quarter of 2003 | |
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Author: anonymous |
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Date Posted: 10:34:36 11/20/02 Wed In reply to: anonymous 's message, "Infineon Brings MultiApps To Contactless Chip Cards" on 10:25:05 11/20/02 Wed http://www.cardsnowasia.com/article.cfm?id=549 ------------------------------------------------------------ Visa, Welcome & Catuity Unveil Network-Independent Technology ------------------------------------------------------------ Visa USA, Welcome and Catuity offered the first public demonstration of the Multi-Network Rewards Solution, a suite of technology components being developed to enable network-independent rewards services for chip-based smart Visa cards issued in the United States. With these new components, smart Visa issuers will have the flexibility of using software from multiple sources, and merchants will be able to support rewards services on smart cards with varying technologies. ------------------------------------------------------------ “Developing the Multi-Network Rewards Solution with Welcome and Catuity will help to accelerate the evolution of a robust supply chain for rewards products and services,” said Patrick Gauthier, Senior VP of Visa USA “We believe that the technology being exhibited will become a cornerstone for chip-based rewards offerings.” ------------------------------------------------------------ The demonstration was the result of an agreement made in April 2002 by Visa, Welcome and Catuity to collaboratively develop network-independent solutions for chip-based smart Visa rewards services in the US. While initially focused on products and services by Welcome and Catuity, the Network-Independent Rewards Solution is designed to support rewards and electronic-marketing solutions for smart cards and POS devices developed by other companies, as well. ------------------------------------------------------------ “These developments will help to side-step the format debate,” said Aneace Haddad, President and CEO of Welcome. “They improve the possibility of more rapid adoption by merchants and issuers who will benefit from an expanding pool of loyalty and e-marketing solutions to provide convenient rewards to their customers.” ------------------------------------------------------------ The new components include software applications for payment and rewards services on cards and POS devices, including SchlumbergerSema’s MagIC series of terminals, which were used in the demonstrations. The Multi-Network Rewards Solution also includes a Card Care system that allows smart Visa issuers to integrate with multiple hosts and efficiently support cardholder customer-service functions via call centers and Web sites. The Card Care system demonstrated was developed by Welcome. ------------------------------------------------------------ Michael Howe, President and CEO of Catuity, added, “This new class of products we are collaboratively developing will result in mature solutions that provide more value to card products, increase customer usage and retention, while at the same time reducing risk for card issuers, merchants and payment networks as they begin deployment of a broad range of third-party applications.” ------------------------------------------------------------ The Multi-Network Rewards Solution is expected to be available beginning the first quarter of 2003. ----------------------------------------------------------- Composed: 20-Nov-2002 | Modified: 20-Nov-2002 ------------------------------------------------------------ [ Next Thread | Previous Thread | Next Message | Previous Message ] |