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| Subject: total processing capabilitiesmigration pathglobal multi-applicationEcard | |
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Author: new company is not focussed on just electronic purse |
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Date Posted: 09:41:47 02/09/03 Sun The information on this screen is no longer current and is provided for educative and historical purposes only. Please refer to the disclaimer Telstra, ERG & ANZ to form a Smartcard Joint Venture 7 September 1999 Telstra, ERG and ANZ today announced that they have agreed non-binding principles for the development of an open common platform for the processing of smartcard transactions in Australia. This will accelerate the growth of the smartcard industry. The agreement will place Australia at the forefront of the evolution of developments in the international smartcard arena, the organisations said. They said the rapid development of electronic commerce is the driver for significant change in traditional business practices. Smartcards play an important role in the facilitation of secure transactions in the environment. To facilitate this critical development, Telstra, ERG and ANZ have agreed to negotiate the establishment of a smartcard operating joint venture company, to which the three organisations will contribute capital and resources. The company, yet to be named, would establish and run a transaction centre, open to all players, to handle transaction processing utilising both Telstra's and ERG's respective smartcard platforms. In due course, the joint venture company would develop a migration path for the existing platforms to meet global multi-application smartcard standards. A key to the agreement is that further shareholders, particularly other banks, would be encouraged to participate in the company as soon as practicable. Ted Pretty, Group Managing Director, Convergent Business, Telstra said the agreement was a watershed in the development of smartcards in Australia as it was intended to distil the smartcard operating platforms to achieve universality of application. "This agreement brings together diverse groups to create a common and open operating platform for smartcards in Australia. This means there is now greater potential for competition in the value added services dimension of the smartcards industry, and the emphasis will now be on competing products utilising common smartcard infrastructure, not on different platforms." ERG Chief Executive Officer, Peter Fogarty said: "This initiative will enable the smartcard industry in Australia to develop at a faster rate. It will continue the trend of global rationalisation of the smartcard industry and drive the development of a standard platform across Australia. With Telstra and ERG committing their smartcard related transaction processing through the new company, the business will be underpinned from day one. Importantly the new company is not focussed on just electronic purse. The new company will provide total processing capabilities for organisations wanting to implement smartcard systems supporting multiple applications." ANZ Head of Technology, E-commerce and Payments, Mr David Boyles said the demand for smartcards in Australia was likely to be driven initially by mass transit and telephony applications followed by business to business e-commerce. "In the future, demand for smartcards will also be driven by customer to business e-commerce, in particular, internet transactions and by the need to avoid magnetic stripe fraud," Mr Boyles said. We are a strong supporter of an open industry smartcard platform in which all players can participate and which enables transactions between member applications. The joint venture is a means to share the technology investment risk, development and operating costs," Mr Boyles said. Mr Pretty said the company would be actively encouraging additional investors. "As new organisations join in, shareholding would be diluted accordingly. Telstra, ERG and ANZ are confident that the group would eventually expand and negotiations are in train with other key corporates to participate," he said. Mr Pretty said this development was complementary with the vision of Telstra's Convergent Business Group, which earlier this year took on responsibility for smartcards, a key component of the infrastructure for electronic commerce. He said Convergent Business was at the evolutionary forefront of Telstra's transition from a telecommunications company to a leader of e-commerce solutions by applying its technical excellence, strong brand, large customer base and well established systems to create new areas of business. For further information contact: Peter Witts Public Relations Manager Telstra Convergent Business Tel: (02) 9298 4641 or 0419 103 451 email: peter.witts@corpmail.telstra.com.au Wendy Watson-Eckstein General Manager Corporate Marketing & Communications ERG Group Tel: (08) 9273 1204 or 0411 199 303 email: wendywe@erggroup.com The information on this screen is no longer current and is provided for educative and historical purposes only. Please refer to the disclaimer Related News Releases 07 February - 000 could be the difference between life and death Telstra, in conjunction with the Australian Communications Authority (ACA) and emergency service organisations, has launched an advertising campaign to educate people about the 000 emergency call service. MORE 01 December - Telstra campaign to highlight use of mobiles in emergencies To mark the first day of summer, Telstra and the National Parks and Wildlife Service of NSW have joined forces to increase awareness of safety in the wilderness. MORE 04 July - Telstra announces big mobile customer wins Telstra Mobile today announced it had substantially grown its corporate customer list following the introduction of Mobile Number Portability (MNP) with many of Australia’s largest organisations switching to Telstra from rival carriers. MORE 21 May - Pay for parking with your Telstra mobile phone Telstra today announced that eligible mobile and communic8 customers will be able to use their post-paid GSM mobile phones to pay for parking under Telstra’s latest Mobile Commerce (m-Commerce) trial, proposed to be made available in the coming weeks. MORE 23 April - Telstra targets $150m concession package to customers in need Telstra today announced a revised $150 million concession package which would include free and discounted phone services to benefit low income earners, the elderly, job seekers and the homeless. MORE 30 Aug 1999 - Telstra delivers price reductions for DDS FastwayTM 8 Sep 1999 - Telstra says consumer impacts must be discussed [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| ECard will also introduce a new infrastructure to Australia | handlemultipleapplicationcardscompliantopenindustrystandards | 09:46:33 02/09/03 Sun |
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