BusinessWire, Thursday, November 05, 1998 at 14:14
LOS ANGELES--(BUSINESS WIRE)--Nov. 5, 1998--Electronic
Transactions and Technologies (ET&T) and Oberthur Smart Cards USA have
entered into a strategic alliance to develop the Oberthur-produced
Easy Card, which will be a combination credit card and ATM card for
banking consumers and an electronic wallet and stored-value card for
nonbanking consumers.
It is the intention of Oberthur and ET&T to work together to
establish a "consortium of select companies" to develop the potential
of the Easy Card.
ET&T is presently distributing free ATM-card/credit-card/smart-
card terminals in public locations. The first application of these
terminals is to allow waiting consumers the ability to shop from
printed catalogs while they wait at car washes, hair salons, hotel
lobbies, clinics, etc.
Oberthur and ET&T are focused on beginning a Los Angeles-area
pilot program where the Easy Card will be used with the terminals in
public locations, and later in the home, for paying a utility bill by
the ATM-card and PIN side for a banking consumer and by the stored-
value-card side of the Easy Card for a nonbanking consumer.
The usage of the Easy Card and the ET&T terminal to legally
replenish or open off-track-betting gaming accounts and other types of
sports gaming will also be tested by Betting Inc. (OTC BB:BETT).
ET&T will act as the bank host, processing the incoming Easy Card
transactions.
The development of the Easy Card, in conjunction with inexpensive
mass-marketed home and office terminals, will allow both the banking
and nonbanking consumer the ability to effect online, real-time cash
electronic transactions.
Oberthur Smart Cards is an international leader in manufacturing
and personalizing high-value-transaction cards. ET&T is a leader in
the development of the PERFECT industry of personal, encrypted, remote
financial electronic-card transactions, and has developed the terminal
and the host processor to effect these transactions. Betting Inc. is a
facilitator of PERFECT gaming transactions.
CONTACT: Carnegie Cooke, 800/262-2331 (for ET&T)
or
Michael Cariou, 310/884-7980 (for Oberthur Smart Cards)
www.oberthurkirk.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET COMED PRODUCT
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Companies or Securities discussed in this article:
Symbol Name
BB:BETT Betting Inc
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