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Technology Stocks : Smart Cards -- Ignore unavailable to you. Want to Upgrade?

To: Eric L who wrote (308)	1/2/2001 8:38:09 AM
From: Eric L	Respond to of 343

>> Sony, DoCoMo And Others To Form Japanese Smart Card Venture RDSL 29 December 2000 Sony will join 10 other large corporations in forming an e-money joint venture in January 2001 which is hoped to one day set the domestic standard for e-cash. The venture will offer in October 2001 a Sony-designed non-contact smartcard which can be used to make up to Y50,000 purchases in shops and online. Reading devices will be set up at banks, convenience stores and other locations. The new company is expected to develop technology allowing cellphones and such devices to work as e-money holders. The venture will have Y5 billion in capital and its shareholders will include Sony and its finance branch (47% stake combined), NTT DoCoMo (15%), Sakura Bank, an affiliate and Sumitomo bank (15% combined), Toyota Motor and Denso (10% combined), DDI (5%), and a number of other banks. << - Eric -