Sydney-based e-payments solutions vendor Keycorp Ltd has announced a deal with a Baltic States bank, AB Bankas Snoras, for the implementation of more than 100,000 Multos cards with pre-authorised e-purse and M/Chip applications in three currencies.
Implementation has begun at the bank's Vilnius-based branch in Lithuania, and will continue until late 2003.
Laisvunas Bartkevicius, director, retail banking, Bank Snoras, says: "With the bank's wide adoption of smart card technologies, it became increasingly urgent to adopt innovative systems and hardware to keep up the momentum."
AB Bankas Snoras is currently developing Internet banking and account e-management systems. As of October 2002, the bank has issued 139,000 microprocessor payment cards and 46,000 international cards.
Keycorp says that Lithuania one of the main emerging east European economies expected to increase e-commerce and new technology investments over the next decade.