Tuesday April 11, 6:31 am Eastern Time
Company Press Release
Capital Security Systems Leads the Way Into the New Smart-Card E-world
SAN DIEGO--(BUSINESS WIRE)--April 11, 2000--While American consumers have been actively seeking reasons for adopting smart-card technology, their use by the rest of the world has been growing since 1998 at the tremendous rate of more than one billion cards per year.
U.S. resistance is about to end if Robin Gustin, president of Capital Security Systems (CSS) has anything to do with it. That's because her company owns the patent on downloading money onto a smart-card in an ATM environment.
If the U.S. market follows Europe, the smart-card will be one of the primary e-commerce tools of the future. Identical in size and feel to magnetic stripe-based credit cards, smart-cards store information on an integrated microprocessor chip embedded within the plastic card. Think of a smart-card as a computer that looks like a card, suggests Gustin. It can store data of any kind, including biometrics data -- fingerprints, pictures, etc. -- that can provide powerful protection from fraud.
Gustin asks..``How does the U.S. compete in global e-commerce with a market that is segmented in its banking procedures?' Answer..``by using smart-cards to combine financial marketplaces. By using a smart-card as a customer ID card, she points out; you have the flexibility and diversity to incorporate a U.S. market that is currently segmented in its approach to e-commerce. Deploying smart-card technology to ATMs is one of the important keys in combining the different, segmented e-commerce markets into one very profitable network.'
The same digital money used to buy things over the Web -- including purchases under $5 for which credit cards are prohibitively expensive -- could be downloaded at an ATM from a personal online bank account onto a smart-card. ``Because money loaded onto a smart-card at an ATM is a direct and immediate cash equivalent,' Gustin explains, ``there are no postings back to a debit or credit card issuer, and so enormous amounts are saved in administrative costs.'
Gustin maintains that, as electronic commerce gains steam, smart-cards will prove to be a critical link between the Internet and the physical world. In fact, according to Jupiter Communications Inc., smart-cards and e-cash transactions could account for half of the $7.3 billion in online sales projected worldwide for the year 2000 -- and that's a market of which America currently owns only 2 percent!
CSS has other patents approved for the Super ATM(TM) platform, including wiring funds from one bank account to another person's account and a patent-pending on cashing a check/note with no human intervention... truly 100 percent automated. CSS is currently looking to secure a buyer for its patents.
The whole key to launching the U.S. smart-card market is finding the most flexible and universally accepted platform through which to implement the technology, concludes Gustin, and that is an automated terminal environment, called the Super ATM(TM) platform.
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Contact:
Capital Security Systems Inc.
Robin Gustin, 619/702-3723
RHGCSS@aol.com |
