Prism Holdings Limited - Prism Wins R40-million Si
IN A DEAL worth over R40-million, secure electronic payments company Prism
Holdings is to deliver a further 890 000 of its locally developed,
sophisticated aSIMetrix SIM cards to the largest GSM operator in the
Philippines, Smart Communications.
SIM (subscriber identification module) cards are the small smart cards that
fit inside mobile phones connected to GSM networks.
The new order for Prism's high-memory capacity 64K cards brings to 1,30-
million the number of aSIMetrix SIMs that Prism will have shipped to Smart
Communications by end of the calendar year. Earlier orders were for
aSIMetrix cards with 32K memory. Most SIM cards in use in SA today have 16K
memory.
The larger 64K memory on the SIMs is required by Smart Communications so
that it can load an upgraded version of its SMART Money application,
resulting in dramatic new functionality options for consumers.
Steven Sidley, Prism's executive director: group marketing says the deal
underscores Smart Communications confidence in Prism as its primary SIM
supplier.
"Smart Communications - an acknowledged world leader in the mobile commerce
arena - has also asked Prism to prepare for ongoing monthly shipments of
SIMs to accommodate their rapidly growing subscriber base which is expected
to reach 12-million by end-2002," he adds.
Smart Communications' growth has been attributed to the operator's ability
to provide subscribers with innovative, value-added services, including its
award-winning SMART Money "electronic wallet" offering.
Alex D Ibasco, head of M-Commerce Business Development at Smart
Communications says Prism's SIM, designed to allow authenticated
transactions across GSM networks, is playing a significant role in the
development of new features and capabilities for the SMART Money product.
SMART Money is the world's first and only reloadable electronic cash card
linked to a mobile phone. SMART Money functions like an "electronic wallet"
are already being used to pay for everyday purchases at global MasterCard
transaction points.
Smart Communications has also spun off a new company, SMART Money
Incorporated, which is gearing up to deploy SMART Money services to other
GSM operators in the Asia Pacific region.
Manufacture of the aSIMetrix SIMs for Smart Communications will be handled
locally by Prism's own production facility in Gauteng, as well as by major
overseas smart card manufacturers such as UK-based ID Data plc which
recently concluded a multi-million Rand licensing agreement with Prism for
the manufacture and marketing of its high security SIMetrix and aSIMetrix
SIM cards.
Notes to Editor:
JSE-listed Prism Holdings is a world leader in the secure electronic
transaction market. With a growing presence in Europe and South-East Asia,
Prism is one of the few companies in the world offering services solutions
and products that bridge the following core technologies:
Security - sophisticated cryptographic security solutions, many developed
using own intellectual property resources;
Payment solutions in the physical and virtual (Internet and wireless)
realms; and
Smart card technologies spanning both wireless communications and electronic
payments.
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