Another baby step towards digital cash...
Friday December 8, 10:24 am Eastern Time
Press Release
ORGA to Supply VISA Cash Disposable 2.0 Smart Cards for Bank of America
PAOLI, Pa.--(BUSINESS WIRE)--Dec. 8, 2000--ORGA Card Systems, one of the world's leading suppliers of advanced smart cards, announced today that it will supply Visa Cash Disposable 2.0 Cards to Bank of America.
The Department of the Treasury has contracted with Bank of America to issue the cards through its smart card program.
Through the program, military trainees at selected U.S. Army and Air Force bases will receive the disposable, stored-value cards as a cash advance against their first payroll payment. The trainees can use the cards at various merchant locations on the military bases to pay for products and services such as food, toiletries, and haircuts.
Participating military bases include Fort Benning (Georgia), Fort Jackson (South Carolina), Fort Knox (Kentucky), Fort Leonard Wood (Missouri), Fort Sill (Oklahoma), and Lackland Air Force Base (Texas).
``We are pleased to be working with ORGA Card Systems on this venture,'' said Lisa Patania, Bank of America Smart Card Business Manager. ``Together, we'll be able to use smart card technology to streamline the trainee payroll process for the U.S. military, saving both time and money.''
Andy Arriviello, Executive Vice President of ORGA Card Systems commented, ``There are tremendous opportunities for smart card technology in the banking sector. This project may serve as a stepping stone for similar projects in the future.''
About ORGA Card Systems
ORGA Card Systems, the North American subsidiary of ORGA Kartensysteme GmbH Germany, has been a pioneer and market leader in the development and implementation of smart card technology since 1985. Application areas include telecommunications, banking, health care, retail/loyalty, and emerging markets.
ORGA enjoys a worldwide presence with subsidiaries, branches, and joint ventures in Brazil, China, Denmark, France, the United Kingdom, Russia, South Africa, Singapore, and the United States.
About Bank of America
Bank of America, with $672 billion in assets, is the largest bank in the United States. It has full-service operations in 21 states and the District of Columbia and provides financial services and products to 30 million households and two million businesses, as well as international corporate financial services for transactions in 190 countries.
The company's stock (ticker: BAC) is listed on the New York, Pacific, and London stock exchanges, and certain shares are listed on the Tokyo Stock Exchange.
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Contact:
ORGA Card Systems
Press Contact:
Heather Reinsel, 610/993-9810 x227
Email: hreinsel@usa.orga.com
or
Business Contact:
Andy Arriviello, 610/993-9810 x229
Email: aarriviello@usa.orga.com |
