Some more building blocks? -
EDS , Visa in smart-card alliance
PLANO, Texas, Nov 2 (Reuters) - Electronic Data Systems Corp. said Monday that it will provide comprehensive systems integration and implementation services to participants in Visa's smart card program, as they move away from the traditional magnetic strip technology.
EDS said that Visa, the largest consumer payment system worldwide, predicts that smart cards, which are plastic cards that contain embedded microchips, will comprise one third of its card volume by the year 2002.
''The Visa Smart alliance is a major step in the evolution of the on-line consumer market, with distinct advantages for financial institutions, merchants and consumers,'' said John Meyer, president of EDS' Diversified Financial Services unit, in a statement.
''The alliance also extends EDS' thrust into the e-commerce market, which is a main competitive focus for us,'' he said.
An EDS spokesman was not immediately available to say how much the deal was worth.
The role of EDS is to enable Visa's member banks to make the transition to smart card technology from the traditional magnetic strip technology
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