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Press Release
Ingenico and Palm Plan to Develop Secure Infrastructure For Virtual Card Payment
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LAS VEGAS, Jan. 6 /PRNewswire/ -- Consumer Electronics Show (CES) --
Ingenico, the pioneering developer of secure payment solutions and smart-card
payment terminals, and Palm, Inc. (Nasdaq: PALM), a leading supplier of
handheld computers, today announced their plans to enable secure payment
transactions between Palm(TM) handheld computers and Ingenico Point of Sale
(POS) Terminals. Combining the strength of Ingenico in secure
smart-card-based payment solutions and Palm's expertise in handheld
technology, the companies are demonstrating the technology here at the CES
exhibition in Las Vegas.
Ingenico and Palm are taking the lead in evolving handheld technology. In
the future, Palm envisions that its handhelds will become a true e-wallet,
enabling users to securely maintain all of their personal ID information (for
example, driver's license and passport) as well as personal financial records
(such as hotel bills and car-rental payments). It is expected to replace
plastic credit cards, ATM cards and even cash, all using POS technology.
Ultimately, Palm handhelds will evolve to organize not only users' personal
lives, but their finances too.
Until now, most innovations in the field of payment technology have been
for the benefit of banks, transaction acquirers or merchants. This revolution
will bring benefits to consumers, making their lives more manageable and
convenient.
Ingenico predicts that when the system is fully running, the outlets that
will make the most use of virtual card payments will include hotels,
restaurants, car-rental companies, clubs, and department stores. Those
outlets represent more than 30 percent of Ingenico's installed base of
approximately 3 million terminals. Commenting on the business model for
virtual card payments, Gerard Compain, managing director of Ingenico, said "We
have been investing in this technology for the last 12 months and have
developed the hardware and software upgrades necessary for our installed
terminal base. This means the merchant can procure a terminal at a very low
cost.
"This technology will permit card issuers to provide new, attractive
e-services to consumers. This is a great opportunity for the financial
community to strengthen its relationship with its clients. The combination of
Palm's leadership in the worldwide handheld market with the strength of
Ingenico in payment solutions brings a new dimension to the mobile commerce
arena, where Palm handheld users could use their e-wallet in millions of
outlets."
About Palm, Inc.
Palm, Inc. is a pioneer in the field of mobile and wireless Internet
solutions and a leading provider of handheld computers (source: IDC, December
1999). Based on the Palm OS(R) platform, Palm's handheld solutions allow
people to carry and access their most critical information with them wherever
they go. Palm handhelds address the needs of individuals, enterprises and
educational institutions through thousands of application solutions. The Palm
OS platform is also the foundation for products from Palm's licensees and
strategic partners, such as CreSenda Wireless; ePocrates, Inc.; Franklin
Covey; Handspring; IBM; Sony; Symbol Technologies; and TRG. Platform licensees
also include Kyocera, Samsung, and Nokia. The Palm Economy is a growing
global community of industry-leading licensees, world-class OEM customers, and
more than 130,000 innovative developers and solution providers that have
registered to develop solutions based on the Palm OS platform. Palm went
public on March 2, 2000. Its stock is traded on the Nasdaq national market
under the symbol PALM. More information is available at http://www.palm.com.
About Groupe Ingenico
The Ingenico group is the No. 1 world supplier of secure transaction
systems. It designs and produces terminals and systems for electronic trade,
and their associated software. It has invested heavily in R&D to achieve
technological advances in both hardware and software, which have greatly
contributed to standard-setting in the trade.
Ingenico adapted quickly to other markets evolving in very different
environments. Today, the group is mobilising its know-how to diversify into
emerging markets such as all forms of electronic & mobile commerce.
Ingenico's growth is accelerated by a policy of making acquisitions and
strategic alliances that has provided it with a strong presence on the five
continents.
The company is now 800 persons strong and is diversifying into emerging
applications, focusing mainly on "B2B" and "B2C" (business-to-business and
business-to-customer) e-commerce and on Internet services.
In 1999, group turnover rose to 180 million Euros, which represents growth
of 93% compared with 1998.
Having sold more than 3,000,000 terminals to date in 40 countries,
Ingenico group is the second leading manufacturer of terminals, all types
considered, and the first for terminals able to handle smart cards.
Palm OS is a registered trademark and Palm is a trademark of Palm, Inc. or
its subsidiaries.
SOURCE Palm, Inc.
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