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| Subject: The core assets of ECard,--------been acquired by Giesecke & Devrient Australasia Pty Ltd. | |
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Author: Found at Ozestock November 13th--posted by Michael Irish |
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Date Posted: Wednesday, November 12, 05:07:16pm New deal puts G&D in the box seat By Garry Barker Technology Editor November 13, 2003 Print this article Email to a friend The core assets of ECard, a leading service provider for smartcards in Australia, have been acquired by Giesecke & Devrient Australasia Pty Ltd. G&D managing director Jim Calrow declined to disclose the acquisition price but said bringing ECard into the infrastructure of his company put it "into the box seat" to meet demand from banking industry, government and other agencies for enhanced security in credit cards and other ID documents. ECard's current base is more than 1.5 million cards, ranging from ANZ Bank's smartcard to cards used by TAFE colleges and the tourism and health-care sectors. The potential for growth of smartcards is now seen as huge. In Melbourne yesterday, while releasing a report on the rising cost and dangers of identity theft and fraud, the Minister for Justice and Customs, Chris Ellison, foreshadowed a major government and industry campaign to improve the integrity of credit cards and other forms of identification. Identity theft and fraud are now estimated to cost Australia more than $1.1 billion a year and all forms of financial fraud in Australia now exceed $6 billion a year, banking industry sources say. advertisement advertisement ECard was set up in 2000 as a joint venture between Telstra and ANZ to manage smartcard transactions and card management systems and to provide the infrastructure to support issuers of smartcards. G&D, a specialist in banknote and other security printing and in smartcard and credit card manufacture, was founded in Germany and has its Australian headquarters and high-security credit card manufacturing facility in Melbourne. A second centre, at Lidcombe, near Sydney, will become the operations centre for ECard. By acquiring ECard, G&D has gained end-to-end control of smartcard production: from access to secure databases of an institution's customer or member information through to the production, authentication and delivery of secure smartcards. [ Next Thread | Previous Thread | Next Message | Previous Message ] |