ID Data plc has strengthened its position in its key retail market by supplying GE Capital, the UK's biggest store card supplier and one of the world's leading financial services companies.
ID Data, a leading supplier of secure transaction systems and smart card services operating in the banking, retail, international telephony and secure access sectors, is to supply, personalise and distribute GE Capital store cards in the UK.
The agreement is for an initial period of two years and generates additional annual revenues for ID Data of up to £2 million a year. Having purchased the processing equipment previously used by the earlier supplier, ID Data has commenced production of cards and mailing them to GE clients.
The project follows a detailed review by GE Capital of its card suppliers. The move was prompted by ID Data's ability to deliver superior standards of accuracy and volume through a combination of high-quality software, equipment, manufacturing process and management. ID Data produced 120 million cards last year while achieving the best accuracy standards in the business.
Michael Stewart, Managing Director of its ID Data Systems Ltd, said: "Our abilities in card personalisation will enable GE's retail-industry clients to get closer to their customers by offering benefits based on individual profiles and purchasing habits. For retailers, that means increased revenues."
The GE production and bureau services will be handled by ID Data's high-technology facility at Petersfield, Hampshire, previously Mids & Horsey Ltd, which was acquired on 8 March 2004. This ultra-secure plant is to be the focus of ID Data's growing financial services business.
Peter Cox, Chief Executive of ID Data plc, said: "This is a tremendous win for us – it's a privilege to work for one of the world's most successful businesses. It is also a declaration of intent – we have the products and processes, the skills and experience, the people and commitment to fulfil large-scale projects to the highest standards of accuracy. The GE Capital project confirms our ability to serve world-leading brands in a competitive environment."