Partnership Will Bolster NETS' Regional Expansion with SchlumbergerSema World-class Expertise and Solutions
SINGAPORE - SchlumbergerSema, a business segment of Schlumberger Limited (NYSE:SLB), today announced it has been accredited by Network for Electronic Transfers Singapore Pte Ltd (NETS), as an official supplier for its smart cards. The smart cards can be used as CashCards, and in a large range of other applications to support NETS' aggressive regional expansion.
NETS' requirements for a smart card supplier were stringent. "NETS applies rigorous quality standards to its smart card suppliers," said Chng Chee Yeong, NETS Group Head (Operations). "The cards provided must be compatible with NETS' current systems, comply with International Organization for Standards (ISO), smart card standards and pass heat tests. On top of that, third party security bureaus must approve the operating systems of all smart cards supplied."
Chng was enthusiastic about the partnership with SchlumbergerSema, and he added, "With the regional growth of CashCard and other smart-card applications, NETS has to grow its supplier base. The SchlumbergerSema track record of providing quality cards and customer satisfaction makes them a reliable partner. We look forward to working with SchlumbergerSema in providing more smart card options to our customers in the region, as well as joint innovations that will drive new international opportunities."
"The partnership with NETS shows our commitment to provide more effective solutions for the Asian markets," stated Lucas Witkam, vice president, e-Transactions Cards, SchlumbergerSema Asia. "Our regional technical centers located in Hong Kong and Beijing have been focusing on local market needs and are closely coordinated with other centers worldwide to maximize the wealth of knowledge and experience. We have since worked with various key client partners to develop market-specific solutions to enhance their time-to-market options and improve profitability."
To date, NETS has issued about 6 million CashCards in Singapore. More than 100 million CashCard transactions were recorded in 2001. Today, CashCard is used extensively for retail purchases, public pay phones, car park payment, taxis, vending machines, road tolls, and even for transactions made over the Internet. The CashCard technology has also been marketed successfully in the Philippines and South Korea.
With more than 20 years experience in the financial sector, SchlumbergerSema offers one of the strongest and most extensive portfolios of smart card solutions. The company -- which has just been named world's leading provider of microprocessor cards by Gartner Dataquest -- has sold more than 2.6 billion smart cards to date. It enables global personalization with geographically located manufacturing facilities, and currently offers the widest portfolio of payment cards in the market, including EMV, UKIS, VIS, M/CHIP, VCEPS, VisaCash, Mondex, Proton and Qianflex, which is specifically tailored for People's Bank of China.
SchlumbergerSema Asia is a diverse organization with an extensive network and strong local expertise, supporting six core industries including telecommunications, finance, energy and utilities, oil and gas, transport and the public sector. Backed by a staff strength of 2,000 from more than 30 offices and manufacturing facilities across 21 Asian countries, SchlumbergerSema Asia works closely with customers to provide best-in-class services and products that minimize customers' business risks and deliver measurable return-on-investment.
-Ends-
About SchlumbergerSema
SchlumbergerSema is a leading information technology services company providing consulting, systems integration, managed services and products to the telecommunications, energy and utilities, finance, transport and public sector markets. With more than 30,000 employees serving customers in 65 countries, SchlumbergerSema is one of two business segments of Schlumberger Limited, a global technology services company. For more information about SchlumbergerSema, visit www.slb.com.
About NETS
NETS was founded in 1985 to operate and manage an on-line debit payment service. It has since grown from a single to a multi?service organisation, providing a comprehensive range of electronic payment services.
Based in Singapore, NETS is expanding internationally with a vision to be the preferred world-class solution provider for payment and processing services, accepting multi-media and multi-channel transactions on behalf of companies, institutions and individuals around the world. NETS products and services are currently marketed in the Philippines and South Korea.
NETS provides merchants, banks and consumers with fast and convenient electronic payment services for carrying out everyday transactions. With a willingness to push new technology frontiers, NETS is continuously developing new payment solutions to create an integrated multimedia platform that allows payments to be made seamlessly across mobile, wireless and physical arenas. With a growing range of payment services, NETS is poised to become the integrated payment gateway for Asia.
Find more information on NETS and its payment services at www.nets.com.sg.
About NETS' services - EFTPOS (Electronic Funds Transfer at Point of Sale) - an online debit payment service enabling consumers to pay for purchases at points-of-sale with ATM cards. NETS processed about 88 million EFTPOS transactions in 2001;
- CashBack - a service enabling consumers to withdraw cash when making a purchase via EFTPOS at participating retailers;
- Shared ATM Service - a switching network that links the ATMs of Oversea-Chinese Banking Corporation and United Overseas Bank for cash dispensing, shared applications and other services;
- CashCard - a stored value smart card that can be used for payment at retail points-of-sale or over the Internet, for payment of road tolls and government services, and for loyalty programmes. About 6 million CashCards have been issued. NETS processed about 100 million CashCard transactions in 2001;
- FEDI (Financial Electronic Data Interchange) facilitates electronic message switching for customers of Singapore banks who send payment and collection instructions for clearing and settlement;
- Trade Finance Service - an Internet-based application that enables organisations to submit their applications for letters of credit, demand drafts and telegraphic transfers electronically through their banks;
- eNETS - a set of payment services that enables users to make financial transactions online or using their mobile phones. It comprises eNETS CashCard, eNETS Debit and eNETS VCard.
For further information, contact:
Erica Low
Marketing Manager
SchlumbergerSema Asia
Tel: 65-6831 5501
erica.low@sema.com.sg
© Press Release 2006
