New Era for Open Contactless Solutions Drives Volume Beyond 2008 Expectations
CARTES 2008, PARIS, France, November 4, 2008 – Beating its own earlier projection by many months, INSIDE Contactless, a leading provider of advanced, open-standard contactless chip technologies, today announced that demand for its award-winning MicroPass® intelligent payment platform has passed the 100-million unit mark in 2008, with production doubling in the second half of the year since reaching 50 million units in May 2008. MicroPass was launched at CARTES 2005, and continues to achieve unprecedented success as the industry’s platform of choice for the new generation of converged applications such as open-loop and closed-loop payments, transit payment, loyalty, access, ID and others on a single contactless card.
Already approved within multiple cards products by Visa, MasterCard and Discover Network, including all required functional, analog, performance and security requirements compliance, the MicroPass platform is the most broadly available core technology for contactless payments, powering bank cards from over 30 card issuers worldwide. More than 25 card manufacturer products powered by MicroPass are available for immediate bank card issuer adoption. Its low power and high performance, combined with the industry's fastest transaction time and outstanding read distance, enables MicroPass to deliver a superior consumer experience for credit, debit, pre-paid debit and other applications in a broad range of innovative form-factors.
“2008 has surpassed our expectations, showing greater than anticipated demand for MicroPass within the financial industry in both the U.S. and Canada,” said Charles Walton, executive vice president of payments for INSIDE Contactless. “Our new MicroPass products for innovative contactless payments on mobile and other devices (MicroPass 4003-S sticker), lightweight ICAO ID cards and documents (MicroPass 5101 and MicroPass 5102), and developer products for other extension markets (MicroPass 4001, MicroPass 5001 and developer kits) show great promise in further expanding the deployed base of MicroPass for 2009. By continuing to innovate with this versatile platform, we expect to see continued strong demand as a broad new range of exciting new standalone and converged contactless applications emerges.”
Visitors to CARTES & Identification 2008 in Paris, Nov. 4-6, can watch INSIDE demonstrate how MicroPass can be used for converged applications at any time during the exhibition at the INSIDE booth 4 L 125, located in Hall 4 of the Paris-Nord Villepinte-France Exhibition Centre. INSIDE will have technical and product experts available for discussions and demonstrations. Charles Walton will make a presentation, “Catch the Next Wave: Convergence and the Future of Contactless Payments,” on Wednesday, Nov. 5, from 12:00 to12:30 p.m. as part of the C13: Convergence conference session.
The MicroPass 4003-S combines the flexible MicroPass 4003 contactless payment processor with a tuned RF antenna and superior shielding to create a pre-punched mobile handset sticker in CR80 card format for a variety of payment sticker applications. It supports prepaid debit as well as standard debit and credit accounts, and can be used to turn mobile phone handsets or almost anything else into convenient contactless payment devices, opening the door to a variety of novel payment applications.
The new MicroPass 4001 and 5001 open-standards, application-ready contactless microprocessors and INSIDE’s development kits give developers all they need to develop and deploy a variety of standards-based contactless applications from a single platform, reducing costs and accelerating time to market. The MicroPass 4001and 5001 products make it easy for contactless card manufacturers, system integrators, technology consulting firms, card issuers, payment system providers and others to develop and deploy new, high-performance, highly secure applications.
“INSIDE Contactless continues to innovate with new form factors and open platforms to stimulate uptake of contactless technology by the payments industry, transit operators, retailers and in access control and ID applications,” said George Peabody, director, emerging technologies advisory service, Mercator Advisory Group. “While the contactless payment technology industry has shown steady growth, the firm’s progress suggests its platform is well positioned to address both ongoing card security concerns and the opportunity multi-application smart cards represent across multiple markets.”
The MicroPass intelligent payment platform is designed to power open standard contactless and dual-interface bank card payments along with other value-added applications in all global regions. Based upon a RISC architecture and optimized to the demanding requirements of contactless transactions, each of the MicroPass family of products is designed to meet the demands of issuer organizations in the bank card payments, transit, ID and access control markets.
Visa, MasterCard and American Express have all launched contactless payment initiatives, and leading banks across North America are issuing millions of contactless credit and debit cards to consumers, according to the Smart Card Alliance. Major retailers across the U.S. are installing contactless readers integrated with point-of-sale (POS) systems that can accept contactless payments. Consumers enjoy added convenience, speed and ease of use afforded by contactless payments, while issuers and merchants enjoy faster transaction times, increased spending per transaction, lower operational costs and penetration into the cash payment market.
About INSIDE Contactless
INSIDE Contactless is the global leader in open-standard contactless payment and Near Field Communication (NFC) semiconductors and software that power the next generation of payment, transit, identity and access control applications. The company’s intelligent, microprocessor-based platforms offer the flexibility to be embedded in smart cards, mobile phones and other consumer electronic devices, documents, badges and other items to support a wide range of innovative contactless applications and bring new levels of convenience to users. INSIDE has delivered more than 250 million contactless platforms worldwide to customers and partners that include many of the leading payment card and mobile phone manufacturers, systems integrators and financial institutions. With a portfolio of 55 families of patents, including several essential NFC patents, the company has played a leading role in NFC and contactless innovation. INSIDE is headquartered in Aix-en-Provence, France, with offices in Shanghai, Singapore, Warsaw, Seoul and Silicon Valley. For more information, please visit www.insidecontactless.com.