| Thu 25 Apr 2002, 0:00 | | Prism Holdings Limited - Prism Petronas Deal Moves |
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PRISM PETRONAS DEAL MOVES INTO NEW PHASE
JSE-listed Prism Holdings has been contracted by Malaysia-based petroleum
giant PETRONAS to install an additional 672 of Prism's SA-developed secure
self service terminals (SSTs) on its petrol station forecourts across the
country. The deal was facilitated and contracted through Pernec, Prism's
contracting partner in Malaysia.
The latest deal, worth around R15-million, marks a continuation of Prism's
two-year relationship with PETRONAS and will bring the number of Prism SSTs
installed at PETRONAS petrol stations to 3 054 units. PETRONAS has a network
of over 600 petrol stations in Malaysia, operated by its Kuala Lumpur-listed
subsidiary PETRONAS Dagangan Bhd.
In addition to the SSTs, Prism also provides PETRONAS with petroleum
forecourt payment technologies and services, including debit and credit-card
electronic funds transfer (EFT).
"Self-service is becoming an increasingly important consideration in the
petroleum industry around the world. However, customers accustomed to being
served at petrol stations are more likely to accept the self-service option
if it is as convenient as possible - and that includes hassle-free payment
for their purchase," says Wim Grobler, CEO of Prism Transactive (M) Sdn.
Bhd.
"This additional order represents not only an indication of the successful
adoption of the Prism-designed technology, but also the extension and
deepening of the relationship between Petronas/Pernec and Prism," adds Steve
Sidley, Prism's Group Marketing Director.
The Prism SST is a secure payment acceptance, funds loading and information
presentation device. It incorporates a secure payment module that comprises
a PIN entry unit and an EMV (Europay MasterCard Visa) approved motorised
card acceptance device, the Prism CAD. This CAD supports chip, contactless
chip (tags) and magnetic stripe cards as well as M-Chip (MasterCard), Visa
debit/credit, Proton and other chip-based products.
When installed in a petrol pump on a Petronas forecourt, the Prism SST will
allow PETRONAS' customers to immediately pay for their petrol purchase using
a debit or credit card without having to move away from their vehicles.
In addition, the SSTs can accept the Malaysian Government-sponsored Proton-
based electronic-purse, branded locally as "MEPS (Malaysian Electronic
Payment Systems) Cash".
These e-purses are incorporated in a multi-purpose card (GMPC), which
replaces the Malaysian national identity card and driving licence. Launched
in July 2001, it's anticipated that 600 000 GMPCs will be in circulation by
the end of this year, rising to 19-million GMPCs by the end of 2008.
NOTE TO EDITORS
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.
issued by : Citigate Ballard King +27(0)11 804 4900
for : Prism Holdings +27(0)11 548 1000
: www.prism.co.za
contact : Steven Sidley, Group Marketing Director
Wim Grobler, CEO of Prism Transactive (M) Sdn. Bhd.
or Hilary King, Citigate Ballard King
