JSE-listed Trusted Transaction company, Prism Holdings, has signed a memorandum of understanding (MOU) with Johannesburg-based Taxifone (Pty) Ltd, to assist in the development of an affordable, robust GSM-based payphone solution for future implementation into the country`s taxi fleet.
Taxifone is launching a product, called SHESHA, which is a cashless payphone that will benefit the commuter & taxi owner and is creating employment opportunities in the taxi & telecommunications industry.
According to Mark Ritchie, Taxifone Executive, the system is likely to be ready for piloting towards the end of the first quarter of 2005. "The project aims to supply a solution that is enabled over the Vodacom network and which will allow taxis to offer commuters a true value-added service. In addition, the development focus is on providing taxi owners and operators with a robust system that doesn`t require the taxi driver to handle cash.
"We requested that Prism participate in the development of the system as we believe that Prism is best able to provide a cashless payment solution that meets the Taxifone requirements for ease-of-use, convenience and total security."
Andrew Turpin, Director - Pay Point Business Unit at Prism, says that the concept behind Taxifone is remarkably simple. "It`s based on what we call a `closed payment` system which utilises a re-loadable payment card. This particular payment card is inserted into a SHESHA payphone unit utilising GSM technology, value is deducted from the card as a call is made. The distinct difference between this payment card and others in the market is that the SHESHA cards are `rechargeable` & therefore not disposable.
"Individuals who purchase a SHESHA card will be able to load funds onto the card by purchasing `SHESHA` recharge vouchers through traditional pre-paid voucher channels," he explains.
According to Turpin, while the technology for re-loadable closed payment systems has been available for some time, the high cost of the technology and particularly the card itself excluded it from widespread adoption. Prism, however, has been able to significantly reduce the cost of the card, making it a viable option for a mass usage scheme like Taxifone.
"In terms of our MOU, Prism will supply the re-loadable cards, the security modules for the GSM payphones to be installed in taxis, the back-end system required to manage the devices, as well as handle the reconciliation and settlement of transactions.
"In addition, Prism will initially host the solution on behalf of Taxifone with the switching of all transactions being handled by Prism TranSwitch Services (PTSS)," he concludes.
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JSE-listed Prism Holdings Limited is a leader in the field of secure electronic transaction products, solutions and services. The Group has a strong presence in South Africa and an established and expanding footprint across Africa and South-East Asia.
Prism has a proven track record in the delivery of secure electronic payment technologies and end-to-end solutions for the retail, utilities, banking, cellular and petroleum industries. The Group has developed and implemented innovative payment-centric Intellectual Property that bridges the following technologies:
* Chip cards including SIM cards, financial smart cards and telephone cards
* Point-of-Sale frameworks, applications and devices
* OEM transaction modules including PINpads, card readers and self-service terminals
* Transaction security modules and servers
* Payment servers, messaging gateways and value-added-services gateways
* End-to-end secure electronic payment architectures for wired and wireless networks
Taxifone
Taxifone Pty Ltd was formed in October 2003 to address the needs of the commuters within the taxi environment in South Africa. The founders of the company wished to provide a solution to deal with the communications needs of the taxi commuter & thereafter to investigate the needs of the commuter within the wider transport environment in South Africa & Africa.
The taxi industry insisted the solution had to be a cashless solution within the taxi. Taxifone now has the solution, which is beneficial to the taxi owner, the taxi association, commuter, the cellular operator & taxifone.
The taxifone solution provides a platform to create further innovations within the transport and cellular phone industries in years to come on an African wide basis
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