Keycorp and Symstream alliance to offer reliable EFTPOS on GSM networks in emerging markets
FOR IMMEDIATE RELEASE Sydney, 19 April 2006 Secure electronic transaction solutions provider Keycorp Limited (ASX: KYC) and wireless technology company Symstream Technology (Aust) Pty Ltd today announced an alliance to offer electronic payments using GSM mobile phone networks. The wireless managed payment solution will specifically target emerging markets which have extensive GSM voice networks but limited data networks. The alliance will focus on opportunities in Indonesia, India and other parts of South-East Asia. Based on the Symstream II wireless technology and Keycorp’s managed payments services, including Keycorp desktop terminals, the solution will allow merchants to send transactions to their banks without needing to connect to a fixed line communications network. The Keycorp-Symstream solution allows banks to deploy reliable EFTPOS services faster and across a broader geographic network because their merchant customers are no longer dependant on the availability of sophisticated fixed line networks. “The integration of Symstream™ II with Keycorp’s payment terminals will potentially change the way people conduct business, particularly in developing countries,” explained Symstream Managing Director, Michael Neistat. “Given less reliance on cash for transactions, consumers in these targeted regions will have modern financial services available literally wherever a mobile phone call can be made.” Keycorp Managing Director, Bruce Thompson, said the alliance represented a further strengthening of Keycorp’s strategy of developing end-to-end payment solutions rather than selling stand-alone products. “With this particular solution we have found a partner with ground-breaking technology that integrates with our products and allows us to offer added value by bundling the offering with our managed payment services,” Mr Thompson said. “In doing so, we can provide an
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innovative solution to a problem that is confronting merchants throughout the fast growing world of emerging markets.” Symstream is already working with Excelcomindo (XL), Indonesia’s largest privately owned mobile telephone service provider to connect automatic teller machines (ATMs) and EFTPOS devices to banking networks. Keycorp is one of the largest suppliers of EFTPOS terminals for Indonesia’s banking system. About Keycorp
Keycorp Limited (ASX: KYC) is a global provider of secure electronic transactions: with solutions from smartcards and point-of-service transaction systems to payment engines and managed services. Keycorp’s electronic payment terminals include smartcard-capable online and offline terminals capable of processing credit, charge, debit and stored value transactions. The terminals are designed for use at a retail point of sale, over the phone, in mobile environments or via the Internet, and can communicate with host systems via fixed or mobile communications. Keycorp is a founding member of the MULTOS consortium, which has responsibility for developing the MULTOS multi-application smartcard operating system. Keycorp develops and distributes smartcard operating systems such as MULTOS, as well as smartcard applications. Keycorp’s e-commerce platform delivers secure and truly end-to-end online transaction processing interfacing services like IVR (integrated voice response), call centres, mail, telephone or fax ordering and Internet based transactions.
For further information see: http://www.keycorp.net or contact: Jeff Bird Narelle Behn-Carey Principal Corporate Marketing Manager Bird & Hill Public Relations Pty Ltd Keycorp Limited Tel: + 61 2 9954 0555 Tel: + 61 2 9414 5314 Fax: + 61 2 9954 3944 Fax: + 61 2 9415 1363 Email: jbird@birdhillpr.com Email: nbehncarey@keycorp.net
About Symstream Technology (Aust) Pty Ltd Symstream is a Melbourne based company involved in the development and commercialisation of telecommunications applications and services. The company is currently launching a revolutionary new, wireless telecommunications protocol, Symstream™ II with the ability to be rolled out across existing GSM networks in over 200 countries. Symstream™ II is positioned to become a global standard. The target market for the Symstream II™ technology is initially the financial transaction sector throughout the Asia Pacific Region and India, serving the likes of banks and other financial service providers with a standardised reliable, fast and low cost wireless service that can be used to connect their fleets of ATM's and eftPOS machines and terminals cost effectively utilising the regions existing GSM voice network infrastructure. For more information, please visit www.symstream.com
Symstream™ is a trademark of Symstream Technology Group Ltd. All other company or product names are trademarks of their respective holders.
For more information contact: Mark Gamon Symstream Technology (Aust) Pty. Ltd. +61 3 9568 2622 Rod North Bourse Communications Pty Ltd +61 408 670 706 rod@boursecommunications.com.au
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