Show your support by donating any amount. (Note: We are still technically a for-profit company, so your
contribution is not tax-deductible.)
PayPal Acct: 
Feedback: 
Donate to VoyForums (PayPal):
| [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, [2], 3, 4, 5, 6, 7, 8, 9, 10 ] |
| Subject: MellonTechnologies & Proton Worldlicenseagreement Mellon project co-ordinatorThe Balcard Consortium | |
|
Author: Athens / Brussels, January 3, 2003:Mellon Technologies |
[
Next Thread |
Previous Thread |
Next Message |
Previous Message
]
Date Posted: 03:25:36 01/07/03 Tue Athens / Brussels, January 3, 2003: ------------------------------------------------------------ Today Mellon Technologies and Proton World announced the signing of a license agreement to employ Proton Prisma as the smart card technology and infrastructure for the Balcard project, an EU co-funded project that officially started on Feb. 1, 2002. --------------------------------------- http://www.balcard.org./en/about_en.htm The BALCARD consortium consists of the following organizations: a) Mellon Technologies (Greece) as project coordinator, b) Borica Ltd., the national card-payments processor of Bulgaria, c) Schlumberger (France), d) Eurobank Cards (Greece), e) Post Bank (Bulgaria), f) JCC Payment Systems (Cyprus), g) Banc Post (Romania). The latter two partners have been added after the approval of the extension proposal. Project Objectives The objective of the project is to establish a pilot in order to perform cross border transactions over the Internet with a stored value card. The trial will cover both EU and non-EU countries and will contribute to the adoption of secure payment mechanisms in order to promote business to consumer commercial transactions over the Internet. In particular, the project aims to: Determine the - limited - previous experience of similar pilots. Develop a cross-border infrastructure for low-value transactions. Launch a pilot with a growing number of cardholders and e-tailers and demonstrate cross-border transactions. Assess the factors that will contribute to the e-payments interoperability, particularly in Europe. Increase (and build) trust in paying for goods and services via Internet. Allow Internet users to do micro payments in a cost-efficient way. Use industry standards like CEPS (Common Electronic Purse Specifications), as the most acceptable e-purse platform, and FINREAD (Financial Reader) as the most appropriate secure card reader standard. Balcard is expected to build and increase trust in performing payments over the Internet for goods and services by allowing the growing number of Internet users to make micropayments in an efficient and cost effective way. Balcard will take into account especially the European Parliament and Council Directive on Electronic money. All the involved parties are expected to benefit from the adoption of smart cards for cross-border Internet transactions. More specifically: Financial Institutions Expanded functionality of electronic purse. Increased revenue opportunities from cardholders and merchants. Micropayment solution for electronic commerce. Enables financial institutions' role in a micropayment solution. Leverage the strength of the brand, building awareness and usage of a new technology. Cardholders Enhanced value and convenience of electronic purse cards. Access virtual merchant environments. Remove concerns about misuse of account numbers, since value is actually stored on the card itself. Merchants Payment solution for microtransactions, enabling merchants to offer a wider range of digital merchandise. Leverages the strength of the brand to generate consumer acceptance. Ability to reach a global consumer market. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: FINREAD (Financial Reader)Use industry standards like CEPS | http://www.mellon.com.gr/links.html The Balcard Consortium | 03:29:24 01/07/03 Tue |
|
||