South African Trusted Transactions company, Prism Holdings, has demonstrated a firm commitment to expansion within the Malaysian ICT industry by appointing Penang-based G-Tek to manufacture Prism`s secure Outdoor Payment Terminals (OPT) locally. The Prism OPT is to be rolled out at petrol forecourts in eight Asian countries.
According to Prism`s Malaysian CEO, Chin Kin Onn, the company recently secured a contract with ExxonMobil, the largest petroleum company in the Asia Pacific, to supply a secure outdoor payment solution for its petrol stations in the region in partnership with Radiant Technologies.
Prism subsequently awarded the contract for the Malaysian production of its OPTs and fabrication of various metal parts to G-Tek which is 70% owned by the Multimedia Development Corporation (MDC), a body that administers and steers the Multimedia Super Corridor (MSC)* companies in Malaysia.
In 2001, Prism established regional representation by setting up head quarters in the Petronas Towers in Kuala Lumpur, Prism consequently achieved MSC status.
Kin Onn explains that the MSC initiative in Malaysia aims to nurture Malaysian technology companies, to assimilate expert knowledge and take locally-produced technology products to international markets.
The Prism Outdoor Payment Terminal (OPT 4000) is an upgraded version of the original Self Service Terminal (SST) which was specifically designed for compliance with the most stringent global security standards: EMV, Visa PED and T-DES. It is primarily designed for 24x7x365, unattended operation in a petroleum dispenser or pedestal on a forecourt.
"Prism transferred technology, design and intellectual property necessary to G-Tek in order to enable the local manufacture of the Prism OPT, G-Tek has consequently supplied Prism with 3267 of these units manufactured to the highest quality standards in the period between June and December 2005," says Kin Onn.
He believes that the Prism/G-Tek partnership is representative of the essence of the MSC initiative.
"Our relationship with G-Tek is a good example of how companies can work together to promote the objectives of the MSC programme. We firmly believe that the relationship with G-Tek is a mutually beneficial one.
"Prism is thrilled to be partnering with G-Tek for the production of our OPTs in Malaysia, the company has a top-class 85 000 square foot facility and achieved the best all round score in the extensive survey of candidate partner companies. At the same time, Prism will benefit from having a local platform from which to market and distribute its products," says Kin Onn.
He adds that Prism Transactive, the company`s Asia-based division, has obtained its MSC status for a financial transaction system it brought to Malaysia.
"Prism fully supports the objectives of the MSC and is proud to play a role in contributing to the success of the programme," concludes Kin Onn.
* MSC-status is the recognition by the Malaysian Government through MDC for companies that participate and undertake its ICT activities in the MSC. MSC-status companies enjoy a set of incentives and benefits from the Malaysian Government backed by the ten Bill of Guarantees.
Conceptualized in 1996, the MSC has since grown into a thriving dynamic ICT hub, hosting more than 900 multinationals, foreign-owned and home-grown Malaysian companies focused on multimedia and communications products, solutions, services and; research and development.
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JSE-listed Prism Holdings Limited is a Trusted Transactions company with expertise in the area of secure electronic transaction technologies and services. The Group has a strong presence in South Africa and an established and expanding footprint across Africa and South-East Asia. Prism`s head office is located in Johannesburg, South Africa and has a regional office in Kuala Lumpur, Malaysia.
Prism has a proven track record in the delivery of own IP transaction technologies and end-to-end solutions tailored for the retail, utilities, banking, cellular and petroleum industries. The Group has developed and implemented innovative payment-centric products that bridge the following technologies:
* Chip and Wireless products: including telecoms and financial software, GSM SIM cards, SAMs, and prepaid telephone cards.
* Encryption products: Incognito Transaction Security Modules (TSMs), security products ensuring transaction integrity, and third party products.
* OEM Transaction Modules including Secure Payment Modules, PIN Entry Devices, card readers and Outdoor Payment Terminals (OPTs).
* Pay Point Technologies incorporating secure integrated POS payment systems, VeriFone products, EMV upgrades, payment software and FlexiLane/POS multi-lane chip payment solution.
* Services division which manages the largest bank-independent financial switch in Southern Africa - EasyPay services.
For more information please visit www.prism.co.za
G-Tek
G-TEK Electronics (G-TEK) is a crossed nations company with corporate offices in Penang (Malaysia), Kuala Lumpur (Malaysia), Taipei (Taiwan) and Texas (USA).
Founded in 1989, G-TEK has established a factory with a total build-up area of more than 85,000 square feet and a mission to design and manufacture telecommunications products for the consumer, hospitality and commercial markets.
With a strong focus on Research & Development and Product Innovation, G-TEK has established itself as a key partner to many worldwide telecommunication companies.
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