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SAN FRANCISCO, CA, 10 November 2004
Visa International today announced an alliance with Innovative Card Technologies, Inc. (InCard), one of the foremost developers of value-added functionality for payment cards. The global, multi-year alliance gives Visa member banks exclusive access to InCard's Power Inlay Technology portfolio, which is designed to attract new customers, improve customer satisfaction and reduce attrition rates. Two Visa member banks, La Caixa in Spain and Development Bank Singapore (DBS), are already planning to issue cards that will feature the new technology.
Contact: Colin Baptie, Visa International Tel. + 1 650 432 4671 at globalmedia@visa.com
InCard's Power Inlay Technology -- a small, thin and flexible inlay containing a battery, circuit and switch -- is designed to enable Visa payment cards to power a mini-flashlight, play melodies or other sounds, or display information. These and other power-based enhancements currently are being developed by InCard to conform to all ISO payment-card standards and are engineered to outlive card re-issuance cycles. Combined with LensCard patents, InCard holds eight U.S. patents and 16 worldwide patents, and has more than 24 patents pending.
The first new card feature, available in the first quarter of 2005, will be the light card. By simply pushing a button, a Visa payment card emits light to become a miniature flashlight, a useful function in dimly lit environments. The unobtrusive light, which can also be used to enhance a card's graphic design, is available in several colors and can be embedded on the front or back of a card. The light card can also be embedded with a small magnifying lens that enlarges type more than three times normal size, giving visually impaired cardholders an additional support tool for a quick and easy visual aid wherever they go. The first Visa cards to be issued with the miniature flashlights will be in Singapore and Spain with DBS Bank in Singapore and La Caixa in Spain planning to offer the cards to customers in 2005.
Other power-enhanced payment cards under development are:
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Sound card -- When prompted by a button, a payment card plays a 10-second pre-recorded song, branded jingle, personal message or virtually any other sound desired by an issuer or cardholder.
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Display card -- Designed to enhance single or multi-application smart card functionality, this display-screen feature can be programmed to show and store a wide variety of information such as transaction details, card balances (on pre-paid payment products), currency conversions, loyalty points, special messages, and a range of other non-financial data.
"These power-based enhancements deliver value-added conveniences to cardholders and provide yet another tool to help our member banks address their attrition goals," said Gaylon Howe, executive vice president, Consumer Product Platforms, Visa International. "Visa's strategic alliance with InCard reflects our ongoing commitment to deliver compelling services and new functionality that meet the evolving needs and interests of our member banks and their Visa cardholders."
The exclusive arrangement also enables Visa issuers to customize and differentiate their product offerings by developing new applications running on InCard's Power Inlay Technology.
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Note to Editors:
About Visa
Visa is the world's leading payment brand generating nearly US$3 trillion in annual card sales volume. Visa has unsurpassed acceptance in more than 150 countries. The Visa organization plays a pivotal role in developing innovative payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce--the ability to conduct commerce anywhere, anytime, and any way. For more information, visit www.corporate.visa.com.
About InCard Technologies (ICT)
Innovative Card Technologies, Inc. (InCard) is a leader in payment card enhancements. InCard issued its first product, the LensCard (a credit card with a built-in magnifying lens) in 1998. InCard has developed "Power Inlay Technology" which integrates a battery, circuit, switch and output device into a payment card. The possibility of putting in a function - driven by power - into an ISO compliant financial card is the concept behind InCard's Power Inlay Technology. InCard's portfolio of products offer both a branding tool to differentiate bank products as well as being practical for the consumer. InCard offers Visa Member Banks an opportunity to be a leader and innovator in the payment card market.
This press release contains forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. Such forward-looking statements are subject to known and unknown risks, uncertainties or other factors that may cause Solicore, Inc's actual results to be materially different from historical results or any results expressed or implied by such forward-looking statements. Solicore, Inc. assumes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date hereof. The potential risks and uncertainties which could cause actual growth and results to differ materially include but are not limited to, customer acceptance of the company's services, products and fee structures, the success of the company's brand development efforts, the volatile and competitive nature of the battery industry, and changes in domestic and international market conditions, and foreign exchange rates.
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