Product Launch
September 05 2007 - 3:03AM
UK Regulatory
RNS Number:3110D
ID Data Group PLC
05 September 2007
Press Release 5 September 2007
ID Data Group PLC
("ID Data" or the "Company")
ID Data Group plc teams up with MasterCard(R)
to launch 'Tap & Go(TM)' payment technology
ID Data Group Plc (AIM:IDD), the smart card solutions and outsourcing business,
announces that it has delivered 'Tap & Go(TM) contactless payment cards for the
MasterCard UK launch of PayPass(TM), the MasterCard contactless payment
technology particularly well suited for small transactions.
ID Data today confirmed that it has successfully developed and delivered the
UK's MasterCard(R) Prepaid cards with PayPass(TM), the next generation of
contactless payment cards from MasterCard.
This project has shown that ID Data has the ability to compete in the new and
challenging environment of RFID secure payments and has a process that can
deliver flexible and innovative solutions in short timeframes.
MasterCard invited ID Data to participate in this project with a demanding time
scales for the launch of the first promotional PayPass cards in the UK.
'Tap & Go' contactless payments are seen as the next major step in the
development of card payment solutions which effectively replace the use of cash
in every day low value transactions.
The PayPass solution for the MasterCard UK launch targets small value purchases
where the card transactions do not have to be authorised online, but instead
take place between the chip within the card itself and the PayPass-enabled
reader. Once a preset offline spending limit for contactless purchases is met,
the cardholder must perform a CHIP & PIN transaction.
The associated convenience delivers major advantages for both the consumer and
retailer. The simplicity of operation makes each purchase considerably quicker
than cash or conventional debit / credit card transactions using conventional
chip and PIN technology.
PayPass functionality is expected to play a key role in payment cards issued
under the MasterCard brand in the coming years. As one of the manufacturers for
the UK launch, ID Data's state of readiness should allow it to gain additional
revenue from its financial and banking clients elsewhere in the UK and Europe.
ID Data Group CEO, Peter Cox, said, "This major development has once again shown
ID Data has the internal skills and technology to deliver leading edge
solutions. ID Data has demonstrated not only its capability in producing
complex dual interface products but also in card personalisation and the loading
of pre-approved funds. We look forward to working with MasterCard on other time
sensitive developments in the near future."
Commenting on the launch, MasterCard's General Manager for UK and Nordics, John
Bushby, said "In the UK alone, there are currently in excess of 20 billion
payments under #10, with a value of approximately #200 billion a year. We
believe that MasterCard PayPass is the faster, and more convenient way to pay
for small purchases under #10. The Project Team at MasterCard have been
impressed by ID Data's speed to market capability given the technical
development work required."
About ID Data
Formed in 1988, the ID Data Group plc is one of Europe's leading suppliers of
plastic cards and plastic card based solutions. ID Data has a strong history in
secure smart card product development and is a world leader in EMV smart card
transition. ID Data holds full MasterCard and Visa accreditation and provides a
wide range of end-to-end smart card based solutions to the banking, retail,
travel and government sectors.
About MasterCard
MasterCard Worldwide is a driving force at the heart of commerce, enabling
global transactions and bringing insight into the payments process to make
commerce faster, more secure, and more valuable to everyone involved. As a
critical link among financial institutions and millions of businesses,
cardholders and merchants worldwide, MasterCard provides services in more than
210 countries and territories. MasterCard advances commerce worldwide by
developing more secure, convenient and rewarding payment solutions, processing
billions of payments seamlessly across the globe, and building economic
connections that accelerate business.
For further information, please contact:
ID Data Group plc
Peter Cox, Chief Executive Tel: +44 (0) 1730 235700
peter.cox@iddata.com
Smith & Williamson Corporate Finance Limited
Azhic Basirov / David Jones Tel: +44 (0) 20 7131 4000
Media Enquiries
Abchurch
Henry Harrison-Topham / Chris Lane Tel: +44 (0) 20 7398 7700
henry.ht@abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
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