The latest deal, worth around R15-million, marks a continuation of Prism's two-year relationship with Petronas and will bring the number of Prism SSTs installed at Petronas petrol stations to 3 054 units. Petronas has a network of over 600 petrol stations in Malaysia, operated by its Kuala Lumpur-listed subsidiary Petronas Dagangan.
In addition to the SSTs, Prism 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 Prism Transactive CEO Wim Grobler.
'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,' says Prism group marketing director Steve Sidley.
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 a Europay MasterCard Visa-approved motorised card acceptance device, or 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's 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 multipurpose card (GMPC), which replaces the Malaysian national identity card and driving licence. Launched in July last year, it is anticipated that 600 000 GMPCs will be in circulation by the end of this year, rising to 19-million by the end of 2008.
Prism Holdings is a world leader in the secure electronic transaction market. With a growing presence in Europe and South-East Asia, Prism offers service solutions and products that take the form of sophisticated cryptographic security solution, payment solutions in the physical and virtual (Internet and wireless) realms, and smart-card technologies spanning both wireless communications and electronic payments.