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Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: R. Jaynes who wrote (14527)	8/24/1999 1:55:00 PM
From: David	Read Replies (5) \| Respond to of 26039

Meanwhile, this South African possibility is surfacing (from the August 23, South African Business Day): "SMART card technology company Net1 Applied Technology (Aplitec) has reported fully diluted earnings per share of 16,03c an increase of 290% for the year to June. . . . "During the year Aplitec acquired 100% of cash distributor of social grants Cash Paymaster Services (CPS) and 51% of microlender Moneyline. "The acquisition of CPS led to the renewal of its contract with the KwaZuluNatal welfare department and a strategic alliance with the SA Post Office, which Nieshlos says bodes well for future pension payment contracts. "Aplitec will pay in excess of R10bn to 600000 KwaZulu-Natal pension beneficiaries over three years. "The Moneyline deal will see the implementation of Aplitecs money transmission system in its 26 branches all over the country. . . . "Other highlights include a deal with FBC Fidelity Bank and Ithala Development Finance Corporation to convert 1,2-million account holders to co-branded smart card holders, and deals with more than 70 national retailers for the provision of cash dispensing, wage distribution and goods payments. "Nieshlos attributes the companys success to its patented smart card technology which has the ability to operate across multiple systems, including Vchip, Mondex and Universal Electronic Payment System. "Conclusion of talks with a US company could see pin number technology replaced with more secure biometrics technology. A fingerprint will be enough to transact, said Nieshlos. An announcement about this should be made shortly." =========== Do we know of any other US companies in South Africa with smart card/biometric capabilities? By the way, Rick, another good find. But what a poorly written story. At least it got the main point across -- still no signed contract, although we're almost there.