Sep 09 2006 |
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Menalco, a TII Company, to roll out the Phoenix exclusivity licensed SCTN loyalty for EMV debit and credit cards
Menalco, a TII loyalty company, will start deploying its multi-national coalition smart card incentives solution system, selektpoints in several countries prior to the end of year 2006."We are confident that enhancing a bank's Europay,
Mastercard
,
Visa
(EMV) business case will allow us to secure several major banks in more than ten (10) countries within the next twelve (12) months," stated Adnan Abdulaziz Al Bahar, Chairman of TII.
"We have plans that a minimum of 2 million cardholders and more than 5,000 merchants will be utilizing our in-house loyalty program, selektpoints as their single insertion, bank card riding solution by the end of year 2006.
"Phoenix's ability to provide a scalable, highly available solution coupled with multi terminal and multi card support made our choice an easy one," stated Robert G. Buchan, CEO of Menalco, owner of the selektpoints brand. "We are confident that the technology, the people and the culture at Phoenix will work well with Menalco to ultimately result in selektpoints becoming the world's largest loyalty program in the very immediate future."
"Menalco's business model is backed with a solid management team, strong finances and world class partners," stated Miki Radivojsa CEO of Phoenix and SCTN. "The Menalco offering is a very strong proposition to any bank rolling out EMV," and presently there are many US and Canadian Banks as well as many multi-national banks looking for this type of solution.
"We have had a CEO of one of the largest banks in India tell us that we are the first Loyalty company to come to them with a sound business model allowing them to move to EMV," states Mr. Buchan.
-Ends-
About
The International Investor
TII is a leading Kuwaiti based shareholding company, established in 1992 by institutional and private investors. The company was listed on the Kuwait Stock Exchange in 1996, and subsequently on Bahrain Stock Exchange. One of TII's distinct competencies has always been the ability to predict future trends and identify new opportunities in the financial service industry. In recent years TII has augmented our core competencies from being the world leading wholesale Islamic Investment Bank to include innovative non-bank financial services.
About Phoenix Technology Holdings Incorporated
Phoenix Technology Holding, Inc., provides hosting, development, sales, client implementation, and system support for not only financial services products but also for several other products and services allowing clients to deploy sophisticated solutions easily and quickly, not only in the US and Canada but also at the multi-national level throughout the world.
About Smart Chip Technologies
Smart Chip Technologies' turnkey customer retention solutions, including Loyalty, Pre-Paid Stored Value, Punch Cards, and Gift Cards enables issuers, acquirers, and merchants to take advantage of real-time programs using their cardholder's existing cards using bar codes, magnetic stripes, smart chips, RFID, Internet accounts, and other consumer electronic devices. The SCTN system is a scalable, high performance, end-to-end solution that uses an ASP model to customize the system's look and feel to reinforce customer branding. (www.sctn.com)
CONTACT:
Smart Chip Technologies,
+1-702-341-2076
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