As SA marks the 10th anniversary of the birth of democracy, Prism Holdings - the JSE-listed trusted transactions company - celebrates its first 10 years in business.
Prism Holdings Limited was founded in 1994 following a management buy-out from Linkdata - the EFT Group.
Says Alvin Els, Prism CEO: "There are very few technology companies founded during that period that still exist today, or are still recognisably the same business.
"While Prism too has been greatly affected by the turbulence that has rocked the ICT industry over the past decade, we never strayed far from our roots and, learning from our experiences over the past 10 years, we have built a strong organisation."
Prior to 1994 certain of the founding members of Prism were involved in the development and initial operation of SA`s earliest electronic banking and payment transaction networks, SASWITCH and Pick `n Pay`s PayNet, which was later named TranSwitch Services.
Soon after Prism`s listing on the main board of the Johannesburg Securities Exchange in October 1999, Prism acquired TranSwitch Services. Today, this forms the services arm of Prism, known as Prism TranSwitch Services (PTSS). This acquisition enabled the group to develop extensive intellectual capital and broad operational experience in the areas of EFT (electronic funds transfer), third-party value-added services, and reconciliation and settlement processing.
Earlier this year Gijima Technologies - a 100% black-owned company - acquired 25.1% of PTSS. This partnership is creating opportunities for PTSS to provide innovative and advanced trusted transaction services to the government and parastatal sectors in SA.
Other key acquisitions over the years have included the chip card manufacturing plant from TEMSA (Telephone Manufacturers South Africa), which today handles the production of Prism`s GSM SIM cards and prepaid telephone cards. The plant has received the latest ISO 9001 (2000) certification. The acquisition from Comparex of the Security Module Group division of security specialist company Nanoteq has further enhanced Prism`s capabilities in the area of hardware cryptographic modules, extended the Prism Incognito security range and added to the company`s expertise in the development of card payment terminals.
Prism has also grown its offshore presence. In 2001 it expanded operations in the Asia Pacific region and today, the Kuala Lumpur-based Prism Transactive (M) Sdn. Bhd operation plays a fundamental role in securing and servicing Prism`s dollar-based business.
Prism is a Thales e-Security Gold Partner and value-added reseller, and the VeriFone International Partner (VIP) for the southern Africa and Indian Ocean islands region.
Share
JSE-listed Prism Holdings Limited is a leader in the field of secure electronic transaction technologies and services. The group has a strong presence in SA and an established and expanding footprint across Africa and South-East Asia. Prism`s head office is located in Johannesburg and has a regional office in Kuala Lumpur, Malaysia.
Prism has a proven track record in the delivery of trusted transaction technologies and end-to-end solutions for the retail, utilities, banking, cellular and petroleum industries. The group has developed and implemented innovative transaction and payment-centric intellectual property that bridges the following technologies:
* Chip cards including SIM cards, financial smart cards and prepaid telephone cards
* Point-of-sale frameworks, applications and devices
* OEM transaction modules including PINpads, card readers and outside payment terminals
* Transaction security modules and servers and trusted centre solutions
* In-store and forecourt payment servers, wireless application messaging gateways and value-added services gateways
* End-to-end secure electronic payment architectures for wired and wireless networks