Oasis Technology, Silverline, Giesecke & Devrient (G&D), Smart Chip Technologies, Ingenico and Cardis have formed an alliance to develop and market an Internet capable, multi-application smart card payment suite.
Under the project name Solstice, the members will integrate EMV (Europay, MasterCard, Visa) card payments with loyalty programs and micropayments on a single microchip. The payment suite also includes merchant, acquiring, issuing and settlement systems for the physical, virtual, and mobile worlds.
The companies point to two trends influencing their decision to form such an alliance: first that market analysis and consumer feedback from smart card trials and programs around the world, point to the benefits consumers see in having one card combining all their key banking and merchant relationships; and second that consumers are demanding a more secure platform so that they may transact with a single card in both the physical and virtual worlds.
The formation of the alliance is timed to coincide with the imminent roll-out of EMV implementations that will result in the replacement of magnetic stripe cards with industry standard hybrid chip and striped credit cards.
The break down of product patents within the suite is as follows:
* Oasis will provide software to facilitate merchant and card accounting, switching and settlement in addition to a virtual credit card;
* Giesecke & Devrient will provide its smart card - including embedding and fulfillment, Public Key Infrastructure (PKI) card applications, security modules and microprocessing knowledge;
* Silverline's CIT e-payments division will provide PKI security server expertise, on/offshore development, systems integration and implementation services;
* Smart Chip Technologies will provide its patented multi-platform smart chip loyalty application;
* Cardis will provide the micropayments engine capability; and
* Ingenico will provide point-of-sale (POS) devices and support systems.
The card will be designed for use at physical locations, online storefronts and with mobile devices.
The alliance members will initially target North American banks, card issuers and acquirers and the card associations before expanding their reach globally. The new card will also be marketed to airlines, retailers, gas chains, quick service restaurants, and Internet digital content providers.