Dubai, May 05, 2003: Samsung Electronics Co., Ltd., the world’s second largest semiconductor manufacturer, today announced that its advanced smart card chip, product code S3CS9PB, has received the highest validation level, Technology Level 3 certification, of Visa International’s Chip Hardware Architecture Review. Complying with industry standards, Samsung’s advanced smart card chip, S3CS9PB, will facilitate safe financial transactions as consumers enjoy the advantages of next-generation telecommunication services.

The Chip Hardware Architecture certification is a standard agreed upon by Europay, MasterCard International and Visa International for governing smart card chip-based credit cards and financial transaction systems. The certification ensures common security and compatibility, critical factors in smart card chips, as wireless and online financial transactions become increasingly available in the global market. The technology level assigned on the basis of a Visa review is a strict certification that classifies smart card chip applications.
 
“Samsung has maintained a comprehensive record of industry standard endorsements with EAL4+ certification from Common Criteria, the highest level international security standard in the semiconductor field. The Technology Level 3 certification of Visa International’s Chip Hardware Architecture Review reiterates our commitment to supplying advanced and industry standard security featured smart card chips to enable secure financial transactions, mobile solutions, IT/network security and digital content protection,” said Mr. Ahmad Al Ahmad, Marketing Manager, Samsung Middle East and Africa.
 
Samsung plans to introduce the S3CS9PB to card makers involved in financial, SIM and mobile applications through aggressive marketing campaigns. According to market researcher Dataquest, the smart card market will average 19% year-on-year growth, from 800million units in 2003 to 1.4billion units by 2006.

Melanie Cameron, Head of New Technologies, Middle East for Visa International, said: “Samsung plays a vital part in the roll out of chip technology across the globe, which is especially important for the payment industry.  As the region's leading chip card issuer with over 75,000 Visa smart cards in circulation throughout the Middle East, it is critical to have strict certification that classifies the safety and compatibility of smart card chip applications, and we are pleased to congratulate Samsung on achieving this certification.”
 
Samsung’s new smart card chip can be used as a subscriber identity module (SIM) in 3G GSM and IMT-2000 mobile communications networks and can also be utilized in multi-functional operating systems such as Multos and Java Open Platform, the basic technology for next-generation e-currency. The Visa validated card adapts to diverse security systems as it integrates an asymmetrical key encryption algorithm based RSA crypto-processor (2,048-bit processing maximum), crypto accelerator and Triple DES, the leading symmetrical encryption standard.
 
The world’s leading smart card producers have recently been requiring aggressive security functions from the smart card chips used in their products. Worldwide users of wired/wireless communications and networks as well as home banking and other electronic financial systems are multiplying rapidly, increasing the importance of data security technology.
 
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 Samsung Electronics – Middle East
Samsung Middle East and Africa (MEA) is headquartered in Dubai. In line with its global vision of ‘digital convergence,’ the company markets its digital devices portfolio through four product divisions: Handheld Products (HHP), Information Technology (IT), Home Appliances (HA) and Audio-Visual (AV).
 
Through a network of over 40 distributors, Samsung MEA looks after the distribution of its digital devices across the Middle East and Africa. With revenues of $1.5 billion in 2002, the company has also invested in a service subsidiary, located in the Jebel Ali Free Trade Zone in Dubai. The 3000 sq.mts service facility recently completed six years and is among the largest within the GCC countries.
 
About Visa     
Visa is the world’s leading payment brand.  Visa-branded cards generate more than US$2.3 trillion in annual volume.  Visa has unparalleled global acceptance, including 810,000 ATMs.  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.   
 
For further information, please contact:
Robin Duff/ Dhanraj Walvekar
ASDA’A Public Relations,
Burson-Marsteller exclusive affiliate in the Middle East
Dubai,
UAE
Tel: +971-4-3344550,
Fax: +971-4-3344556,
E-mail: info@asdaa.com
 

© Press Release 2003