Broad-based ICT distributor Pinnacle Micro - which predicts a massive boom in the sale of smart card-enabled devices now that smart cards are due to become the next transactional platform of choice - has signed a Southern African distribution agreement with specialised computer input devices manufacturer, Cherry.
This was confirmed by Hans Steyn, business development manager at Pinnacle Micro, who said the "replacement market" for keyboards in market sectors such as retail and banking - and general point-of-sale - will "easily be in excess of R1 billion".
"All current keyboards will, over the next year or two, have to be replaced so they will be able to transact with the new EMV technology, which is to be introduced into SA in July."
EMV is the international standard for the inter-operation of smart chip cards.
The name EMV comes from the initial letters of Europay, Mastercard and VISA, the three companies that originally co-operated to develop the standard. All Cherry devices now meet the EMV 2 standard as well as the ISO7816 card standard.
Cherry keyboards are integrated with contact/contactless smart card readers as well as standalone smart card readers, which have been awarded certification for the USA security programme.
Steyn said banks would initially use a hybrid card that will come with fully-fledged smart card capabilities, but would include a magnetic stripe for 'traditional transactions'.
"But as the magnetic stripe component will be phased out, we will convert entirely to smart cards in the near future. We are entering this marketplace early, echoing our stated mission of being innovators, of being pioneers - and of bringing new technology to our customers as early on as possible. Our Cherry products can also offer smart card solutions to other POS platforms"
He said there are two primary benefits to moving to smart card-based credit card payments: one is improved security - with the concomitant fraud reduction; and the second is the possibility for better control of 'off-line' card approvals.
The distribution agreement with Cherry will be signed in time for a " June start", said Steyn. Products will be sourced from Cherry operations in Germany and the Czech Republic.
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Cherry Corporation with its HQ in Pleasant Prairie, Wisconsin, USA, is one of the world's leading manufacturers of computer input devices as well as components for applications in the automotive, industrial and white goods sectors. Since being founded by Walter Cherry in 1953, Cherry Corporation has grown to become a global group of companies with currently over 3 000 employees as well as production facilities in Europe, the US and Asia. The subsidiary Cherry, with its headquarters in Auerbach, Upper Palatinate was founded in 1963. At present, a total of 1 500 staff are employed at the plants in Auerbach and neighbouring Wolfsbach. Cherry acts as the European headquarters and development centre. It is from here that the sales organisation of the three divisions is managed over the whole of Europe.
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