JSE-listed Prism Holdings has been contracted by Malaysia-based petroleum giant Petronas to install 672 of Prism`s SA-developed secure self service terminals (SSTs) on its petrol station forecourts across the country. The deal was facilitated and contracted through Pernec, Prism`s contracting partner in Malaysia.
The latest deal, worth around R15 million, marks a continuation of Prism`s two-year relationship with Petronas and brings to 3 054, the number of Prism SSTs installed at Petronas petrol stations. Petronas has a network of over 600 petrol stations in Malaysia, operated by its Kuala Lumpur-listed subsidiary Petronas Dagangan Bhd.
In addition to the SSTs, Prism also provides Petronas with petroleum forecourt payment technologies and services, including debit and credit card electronic funds transfer (EFT).
"Self-service is becoming an increasingly important consideration in the petroleum industry around the world. However, customers accustomed to being served at petrol stations are more likely to accept the self-service option if it is as convenient as possible - and that includes hassle-free payment for their purchase," says Wim Grobler, CEO of Prism Transactive (M) Sdn. Bhd.
"This additional order represents not only an indication of the successful adoption of the Prism-designed technology, but also the extension and deepening of the relationship between Petronas/Pernec and Prism," adds Steve Sidley, Prism`s Group Marketing Director.
The Prism SST is a secure payment acceptance, funds loading and information presentation device. It incorporates a secure payment module that comprises a PIN entry unit and an EMV (Europay MasterCard Visa) approved motorised card acceptance device, the Prism CAD. This CAD supports chip, contactless chip (tags) and magnetic stripe cards as well as M-Chip (MasterCard), Visa debit/credit, Proton and other chip-based products.
When installed in a petrol pump on a Petronas forecourt, the Prism SST will allow Petronas' customers to immediately pay for their petrol purchase using a debit or credit card without having to move away from their vehicles. In addition, the SSTs can accept the Malaysian Government-sponsored Proton-based electronic-purse, branded locally as "MEPS (Malaysian Electronic Payment Systems) Cash".
These e-purses are incorporated in a multi-purpose card (GMPC), which replaces the Malaysian national identity card and driving licence. Launched in July 2001, it`s anticipated that 600 000 GMPCs will be in circulation by the end of this year, rising to 19 million GMPCs by the end of 2008.
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