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Technology Stocks : Atmel - the trend is about to change

ATML 8.140

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Apr 12 5:00 PM EST

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To: SemiBull who wrote (13317)	3/4/2004 12:21:57 AM
From: tech101	Read Replies (1) of 13565

Will Everyone Have a Smartcard in the Pocket Before Long? Holding your credit cards close Posted on Wed, Mar. 03, 2004 By Elise Ackerman Mercury News Police blotters do not usually inspire high-tech product pitches. But a report last month that the San Jose Police Department had busted two fraud rings for skimming credit card numbers seemed the perfect opportunity to highlight a new payment technology developed by Vivotech, a Santa Clara start-up. Vivotech's technology allows credit card users to pay for purchases by simply waving their cards in front of a handheld device. The system eliminates the need to hand over a card to a waiter to swipe in the back of a restaurant. ``It's inexpensive to build, and it's inexpensive to deploy,'' said Vivotech Chief Executive Jorge Fernandes, as he paid for lunch at João's Restaurant in Santa Clara. According to San Jose police, restaurant workers recruited by the fraud rings stole account numbers from dozens of local diners by surreptitiously swiping their cards through a device that copied the information from the cards' magnetic strips. Vivotech's system picks up data from a computer chip embedded in the credit card. The basic hardware to use the system costs about $200. ``It's very simple; it's very nice,'' said proprietor João Barboso, as he demonstrated how the handheld device transferred card data to a traditional point-of-sale system he has used for years. Fernandes said Vivotech's system was initially deployed by MasterCard International last year as part of a test of its new PayPass program, which used credit cards embedded with microchips and Nokia phones as newfangled payment devices. A planned expansion of the PayPass program this summer could allow Vivotech's system to be used by millions of cardholders nationwide. In addition, Fernandes said customers in Chile, Russia, Singapore and the United Kingdom have signed up to use the system for both credit card payments and loyalty rewards programs. mercurynews.com

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