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Date Posted: 17:13:10 02/25/03 Tue
Author: AE PLANS TO TRY OUT DECLINE COMMENT( 2003-02-25 )
Subject: Texas Instruments chippay-with-a-wave SpeedPass tokenExxon Mobil

Chip Maker Launches A Smarter SpeedPass

Dallas-based Texas Instruments Inc., maker of the chip inside the pay-with-a-wave SpeedPass token from Exxon Mobil, this week introduced a more secure smart card chip for wireless payment. The new chip passes data at a faster rate than SpeedPass, allowing a token to authenticate itself to the reader and exchange more customer data, says V.C. Kumar, strategy manager for wireless commerce at Texas Instruments. The new chip also must be within 4 inches of the reader to communicate, and that short read range makes it less likely a payment would be charged inadvertently, he says. The chip complies with an international specification known as ISO 14443 Type B, the same protocol used in contactless chip cards MasterCard International and three credit card issuers are testing with merchants in Orlando. Consumers there pay by waving cards near readers at fast food restaurants and other retailers, and issuers hope cardholders will find this as convenient as the SpeedPass, which has 6.5 million active users. Kumar says the new chip will be available in April and will cost about $1 in large volumes. He says two financial institutions plan to test it, but would not name them. Sources say American Express plans to try out the Texas Instruments chip, but AmEx declined comment. Texas Instruments next week plans to announce a reader module for the contactless chip that will be priced at around $50, Kumar says. The reader can be configured to read both Type A and B chips, as well as SpeedPass and a similar token marketed in Canada by Shell.

Texas Instruments was the world�s fourth-largest semiconductor manufacturer in 2001, according to research firm iSuppli. The company reported 2002 revenues of $8.3 billion.

( 2003-02-25 )

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Replies:

specification known as ISO 14443 Type B, (NT) -- same protocol used in contactless chip cards MasterCard, 17:14:19 02/25/03 Tue
Texas Instruments next weekconfigured to read both Type A and B chips -- SpeedPass similar token marketed in Canada by Shell, 17:17:12 02/25/03 Tue