MTS to Use Open Market System

Open Market, Inc. , a leading provider of Internet commerce software, has announced that MTS Advanced, a division of Manitoba Telecom Services, has launched its new nGage Electronic Commerce service using Open Market’s Transact software. nGage Electronic Commerce provides a complete and fully integrated service that allows businesses to easily sell products, services, and information on the Internet. This service, powered by Open Market’s Transact Internet commerce software, centrally manages the online transactions, fulfillment, and administrative processes for business in a fast, reliable, and secure environment.

“Internet commerce is a rapidly growing business in a global marketplace. This exciting new service will meet this demand, providing businesses with an opportunity to use the Internet as a viable sales and distribution channel,” said Bruce MacCormack, President and Chief Operating Officer of MTS Advanced, the new media and directory publishing division of Manitoba Telecom Services Inc.

“MTS Advanced is a great example of telecommunications companies using Transact to broaden their services to customers,” said Gary Eichhorn, president and CEO of Open Market, Inc. “Now, Canadian businesses, particularly those in Manitoba, will be able to look to MTS to take care of the cost and complexity of Internet commerce.”

One of the many benefits of the nGage Electronic Commerce service is the ease with which any business can sell its products or services on the Internet. The service processes orders, calculates taxes and shipping costs, and processes and settles payments, providing full financial reporting and valuable market research to clients. In addition, the service can also settle transactions through a variety of currencies, and businesses are also eligible to receive other benefits such as discounts on credit card charges and domestic and international shipping rates.

nGage has brought together leading software, hardware, telecommunications, finance, and shipping services into one unique and fully integrated solution. Clients of the service need no additional hardware or software and nGage provides the training and technical support. The service can also integrate with a client’s in-house systems or those of a third-party service provider. nGage Electronic Commerce will be sold by MTS Advanced and a channel of Canadian agents and resellers. For additional information on nGage’s suite of electronic commerce solutions, businesses can contact nGage toll-free at 1-888-783-5555.

More About Open Market

Founded in 1994, Open Market, Inc. develops, markets, licenses, and supports high-performance software products that allow its customers to engage in business-to-consumer and business-to-business Internet commerce. Open Market’s innovative technology enables the separation of the management of business transactions from the management of content, thereby allowing companies to securely, centrally, and efficiently manage business transactions over the Web. The company, headquartered in Cambridge, MA, can be reached at 617-949-7000 and on the World Wide Web at .

The Folio Products Division of Open Market is the world’s leading provider of software for publishing professional information. Folio products are installed on an estimated 30 million desktops. More than 700 publishers use Folio software to create and distribute approximately 3,500 electronic titles. For more information about Folio products and services, contact Folio at 801-229-6710 or visit .

This news release contains forward-looking statements, with respect to Open Market, that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the company’s limited operating history, delays in product development, development of the Internet market, and the risk factors detailed from time to time in the company’s periodic reports and registration statements filed with the Securities and Exchange Commission.

NOTE: Open Market, Transact, and We ARE Internet Commerce are trademarks or registered trademarks of Open Market, Inc. in the United States and other countries. All other names are used for identification purposes only and may be trademarks of their respective owners.


Fujitsu Hires MasterCard Exec

Fujitsu-ICL Systems Inc. Tuesday announced that Rita L. Champ has been named senior vice president and general manager of the Financial Systems Division.

Champ comes to Fujitsu-ICL Systems from MasterCard International, where she was most recently vice president, Co-Branding/Affinity Marketing.

“We are pleased that Rita has chosen to contribute her talents and join Fujitsu-ICL,” said Rod Powell, president of Fujitsu-ICL Systems. “Her 20-plus years of experience in the financial services industry, combined with her demonstrated success in marketing, strategic planning and business development, are welcome additions to our strong management team. In addition, Rita’s keen understanding of consumer behavior will be extremely valuable as our Financial Systems Division continues to grow.”

“I am excited to be a part of Fujitsu-ICL Systems and its senior management team,” Champ said. “The company has an excellent array of products in both the financial services and retail industries, as well as a superior team of dedicated people. We have had a banner year with our ATM products, and it is our goal to develop a stronger market focus, become more consumer-centric and continue building a strong service organization.”

Champ assumes the position following the promotion of former General Manager Ron Omohundro, who has been appointed as the general manager of Fujitsu-ICL’s newly formed Global Products Group.

While Champ was vice president of Co-Branding/Affinity Marketing at MasterCard, she spearheaded strategic planning, concept development, consumer research and industry analysis for new co-branding programs in the travel, entertainment, insurance, health care and petroleum industries.

Champ’s other positions at MasterCard included vice president of business planning and development, and vice president of marketing for Maestro, MasterCard’s national online direct debit, point-of-sale system.

Before joining MasterCard in 1992, Champ spent eight years as the senior vice president of marketing and communications for Star System Inc., where she was instrumental in growing the network from its inception to one of the largest regional EFT systems in the country.

Prior to that, she served as the vice president of electronic banking for Imperial Savings Association, where she was responsible for the implementation, management and marketing of a three-state ATM network and Visa check card program. Champ holds a master of science in organizational management, and a bachelor of arts in psychology and communications.

Fujitsu-ICL’s Financial Systems Division is based in Hackensack, N.J., with operations and sales offices in La Jolla, Calif., and Atlanta. The Financial Systems Division has built a reputation for providing innovative features, progressive ergonomic design and reliability for its Series 7000 Advanced Platform family of ATMs and cash dispensers for off-premise, through-the-wall, drive-up, kiosk and lobby installations.

With headquarters in Dallas, Fujitsu-ICL Systems Inc. employs 1,200 people in North America and is the result of a joint partnership between ICL PLC of London and Fujitsu Ltd. of Japan.

In addition to its line of automated teller machines, airline ticket printers and handheld computers systems, Fujitsu-ICL Systems provides integrated information systems to supermarket, home center, specialty and hard goods retailers in North America.


China EFT Network

S2 Systems Inc. announced that its OpeN/2 transaction engine is driving a new EFT network in China for the Shenyang Credit Card Finance Network Co., Ltd. Gold Card project. The system now supports 185 automated teller machines and 935 point-of-sale devices. This heralds the launch of the S2 OpeN/2 software within a global EC market.

“All ATM and POS transactions for the top six national banks in the Shenyang district of China are now being processed using OpeN/2,” said Ivan Koon, president of S2 Systems. “OpeN/2 is the only open architecture, fault-tolerant application in the Gold Card pilot project. We were chosen to participate because of our open-systems solution, running on industry-standard operating systems, rather than proprietary applications.”

The network went live in October of this year, with OpeN/2 interconnecting automated teller machines (ATMs) of the six banks in the Shenyang district. In early 1998, connections to China’s national Gold Card center and other Gold Card centers around the world will make global funds exchange possible.

Gold Card is a nationwide electronic commerce project to link all credit card and debit card issuers in China with international EC gateways. There are 12 pilot sites throughout the country. The six national banks currently using OpeN/2 software for transactions in Shenyang province are Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, China Merchant’s Bank and Industrial & Commercial Bank of China.

According to the Financial Times of London, People’s Bank of China, the country’s central bank, forecasts that more than 200 million payment cards will be issued by 2003, catapulting China to a level of cashless payment surpassing many western economies. Currently, there are some 40 million payment cards in use in China.

“China is the largest emerging market for retail and financial payment systems, so it is the ideal opportunity to apply OpeN/2 software to any kind of transfer,” Koon said.

In Asia, more than 90% of sales transactions are now made in cash, and the percentage is even higher in China, according to the Financial Times of London. However, card transactions (overwhelmingly debit cards) have grown as much as 25% a year for the past three years in China.

For Gold Card, the OpeN/2 application for banking and financial transactions is running on a Stratus(R) Continuum(R) hardware platform. The OpeN/2 software system uses an object-oriented relational database as its file system, allowing it to work across multiple platforms, in an environment that includes both legacy systems as well as the newest hardware. That is especially important in the rapidly emerging world marketplace.

With OpeN/2, applications do not change regardless of the database or operating system involved. Databases supported are Microsoft(R) SQL server, SyBase and Informix. OpeN/2 operates on Microsoft Windows NT(R) and HP-UX(TM) operating systems utilizing hardware from Stratus Computer and Hewlett-Packard.

For over a decade, S2 Systems has provided ATM/POS software that supports banks with 40 to more than 2,000 ATMs and service bureaus processing more than 4 million transactions daily. S2 Systems software drives local, regional or nationwide ATM or POS networks in nearly 60 countries. The company’s software supports such varied electronic commerce (EC) requirements as electronic funds transfer, on-line banking applications or loan payment services, file transfer, EC messaging and EC gateways between legacy systems via Internet or Web-based technologies.

S2 Systems is a leading supplier of business EC software and professional services. S2 Systems focuses on EC gateway, electronic funds transfer, healthcare administration automation and customer-specific marketing software for retail, financial services, healthcare and evolving industries. Headquartered in Dallas, with offices in Atlanta, Hong Kong, London, Maarssen and Sydney, S2 Systems’ products have been licensed by more than 600 companies in 60 countries. S2 Systems is a wholly owned subsidiary of Stratus Computer, Inc. (NYSE: SRA).


Merger Mania

National City Corp. agreed to acquire First of America yesterday in a transaction valued at $6.6 billion. The combined bank will have $75 billion in assets and serve more than eight million households. Yesterday’s move will also effectively double the size of National City’s credit card portfolio. According to Bankcard Update/CardData, National City had $1,149,643,000 in receivables and 1,584,403 gross accounts as of Sept. 30 while First of America had about $1.3 billion in receivables and 1.5 million accounts. The deal is expected to close during the second quarter 1998.

Natl City $1,168,318,000 $530,257,000 1,565,966
Frst of Am $1,300,000,000 $600,000,000 1,500,000
Post Mrgr $2,468,318,000 $1,130,257,000 3,065,966


Fleet Names Card Czar

Fleet Names Saunders Chairman And CEO of Credit Card Operations

Fleet Financial Group announced today that it has named Joseph W. Saunders as chairman and chief executive officer of its credit card business. That business includes Fleet’s credit card portfolio and, upon completion of the transaction, the credit card portfolio of Advanta Corp. Fleet previously announced on October 28 that it had reached a definitive agreement to acquire Advanta’s credit card operations. The transaction is expected to be completed during the first quarter of 1998.

Saunders, age 52, joins Fleet from Illinois-based Household International, Inc., a diversified financial services company, where he served as group executive — U.S. BankCard operations and as president and chief executive officer of its Household Credit Services division. He will report directly to H. Jay Sarles, vice chairman and chief administrative officer of Fleet Financial Group.

Upon completion of its acquisition of Advanta’s credit card business, Fleet will become the ninth largest issuer of credit cards nationwide. Including Fleet’s current credit card operations, the combined business will have approximately $14 billion in managed receivables and over eight million customers. In addition to Advanta’s core credit card operations, Fleet will acquire all technology and information management, direct marketing and new product development, and treasury/finance operations.

“Joe Saunders has a national reputation and brings to Fleet an extensive background in credit card products and the consumer finance business, and we are extremely pleased to bring him on board to oversee our expanded credit card operations,” said Sarles. “His vast experience and industry knowledge should prove to be of significant benefit to Fleet as we continue to build upon our consumer-based financial services.”

Prior to joining Household Credit Services as vice president of credit card operations in 1985, Saunders served as a vice president in credit card operations at Bank of America. He previously held executive positions at Continental Illinois Bank and its successor in the credit card business, Chemical Bank.

Saunders is the chairman of the MasterCard International Global Board of Directors and a member of the MasterCard U.S. Board of Directors. He also served as a member of the Marketing Committees of both Visa International and MasterCard, and was chairman of the American Bankers Association’s Bankcard Committee. He holds a bachelor’s degree and an M.B.A. from the University of Denver.

Fleet Financial Group, headquartered in Boston, is an $83.6 billion diversified financial services company listed on the New York Stock Exchange. The nation’s sixth largest commercial lender and New England’s leading small business lender, Fleet’s lines of business include consumer banking, government banking, mortgage banking, corporate finance, commercial real estate lending, insurance services, discount brokerage services, equipment leasing and asset-based lending. Fleet also provides investment management services for both individuals and institutional clients and currently has $55 billion in assets under management. With more than 1,200 branches and over 2,300 ATMs, Fleet also provides 24-hour telephone banking as well as electronic banking services through the Fleet PC Banking Center.

Household Bids Farewell to Saunders

Household International, Inc. today announced the resignation of Joseph W. Saunders as Group Executive – U. S. BankCard. Mr. Saunders will be going to Fleet Financial Group as chairman and chief executive officer of Fleet’s credit card business.

William F. Aldinger, Household’s chairman and chief executive officer, said, “Joe Saunders has been the architect of Household’s highly successful co-branded and affinity credit card strategy. Since he joined Household in 1985, Joe and his management team have built our credit card business from under $200 million in receivables to the sixth largest Visa/MasterCard issuer in the U. S.”

Mr. Aldinger continued, “We presently have great momentum in our bankcard business, driven by our partnership programs such as the GM Card and the Union Privilege affinity program with the AFL-CIO. Joe deserves a great deal of credit for designing and nurturing these programs, which give us the foundation for sustained, profitable growth in our domestic credit card business in 1998 and beyond. We wish him well in his new venture.” Household also announced that the company’s U.S. bankcard business will report directly to Mr. Aldinger.

Household International is a leading provider of consumer financial services, including consumer lending and credit card products, in the United States, Canada and the United Kingdom. In the U.S. HFC, the nation’s oldest consumer finance company, is one of Household’s primary businesses. Household is also one of the largest U.S. issuers of private label and general purpose credit cards, including the GM Card, and the Union Privilege card, marketed to 13 million AFL-CIO union members.

Fleet Raises Cash

Fleet Financial Group, Inc. announced today the public offering of 10,750,000 shares of common stock, the proceeds of which will be used for both the acquisition of Advanta Corp.’s credit card business and for general corporate purposes. Fleet initially announced its intention to reissue these shares following the announcement of its agreement to acquire Quick & Reilly Group, Inc.

As of October 31, 1997, Fleet Financial Group had 250,218,766 common shares outstanding. Total equivalent shares at the end of the third quarter of 1997 were 259,996,323. Fleet also expects to issue approximately 22.8 million shares in the Quick & Reilly transaction, which is expected to close in the first quarter of 1998.

Lead underwriters for the offering are Merrill Lynch & Co. and UBS Securities. Co-managers for the offering are Credit Suisse First Boston, Goldman Sachs, Keefe Bruyette & Woods, Lehman Brothers and Salomon Smith Barney.

Fleet Financial Group, headquartered in Boston, is an $83.6 billion diversified financial services company listed on the New York Stock Exchange. The nation’s sixth largest commercial lender and New England’s leading small business lender, Fleet’s lines of business include consumer banking, government banking, mortgage banking, corporate finance, commercial real estate lending, insurance services, discount brokerage services, equipment leasing and asset-based lending. Fleet also provides investment management services for both individuals and institutional clients and currently has $55 billion in assets under management. With more than 1,200 branches and over 2,300 ATMs, Fleet also provides 24-hour telephone banking as well as electronic banking services through the Fleet PC Banking Center.


Gemplus Picks Montreal

Gemplus chose Montreal as the site for expansion of its North American production. The company will hire some thirty people over the next three years, increasing this number to about one hundred employees by the year 2000. It is preparing to invest 20 million dollars in this major expansion project.

Founded in 1988, this company specializes in semi-conductors and chips used in the communications technology sector. In 1996, Gemplus had sales valued at 600 million dollars. It invested 15 million dollars in research and development and 80 million dollars to expand its production. Gemplus is now a world leader in chip cards, with a market share of nearly 40%.

When asked to speak, Minister Pierre S. Pettigrew said: “Montreal was chosen because of its bilingualism and the dual cultural presence of Anglo- Saxon and French elements. It provides an entry into North America, Europe and Asia, which shows how important the affinities among languages, cultures and business are.”

After restating the key initiatives taken by the Government of Canada to encourage Canadians to develop the skills required in the science and technology sector, Minister Pettigrew added: “Montreal was selected because of the high standard of its schools and universities, which provide training for the specialists and technologists the company needs so badly. Montreal is also well-known for the stability of its labour force.”

The Minister of Human Resources Development outlined a range of programs and projects which encourage skills acquisition by Canadian workers. Last August, for instance, Human Resources Development signed a $84,81 0 contract with Gemplus under its Youth Internship Program, as a result of which 15 technicians and engineers were hired as programmer analysts.


Layered Biometric ATM

Diebold, Keyware and Visionics unveiled the world’s first fully intuitive ATM yesterday at the BAI Retail Delivery Conference underway in New Orleans. The super ATM features both facial recognition and voice verification technologies. As a user steps up to the ATM a camera captures an image of the user which is then located and identified within a fraction of a second by Visionic’s ‘FaceIt’ software. The user then speaks a pass phrase which is matched against a stored voiceprint using Keyware’s ‘VoiceGuardian’ technology. Last year Diebold installed the first live ATM using fingerprint verification technology in South Africa.


Major Rollout

Schlumberger was selected Monday to supply 50,000 smart card laundry terminals to Mac-Gray Corp. customers. This is believed to be the largest smart card program, in terms of smart card devices, in North America. Mac-Gray said it plans to convert a substantial portion of its laundry machine portfolio in 23 states to coin-free systems. Besides operating laundry machines the Mac-Gray smart cards will also enable building residents to make vending machine purchases, access business centers and provide building access. Mac-Gray owns and operates about 120,000 laundry machines in more than 17,000 multiple housing laundry rooms.


Transaction Record

U.S. consumers racked up 19.9 million retail VISA transactions representing $1.4 billion in retail purchases last Friday. VISA also reported yesterday that volume for this past Saturday logged in at 18.9 million transactions and $1.1 billion in volume. For both days transactions were up 16% and volume increased 12% compared to the same days last year. While the figures represent a new record the increase in volume is below this year’s charge volume growth rate of 14% annually and is significantly below the 20%+ increases in holiday volume experienced over the past five years. VISA says its highest volume day is historically Dec. 23.


ATM-X Unveiled

Cash Technologies, whose CoinBank subsidiary is a leader in self-service coin deposit machines for banks, has announced a major advancement in retail banking. After years of design and research, Cash Technologies has released its new ATM-X(TM), a state-of-the-art machine that provides a full range of kiosk services not previously offered by ATM machines, including electronic bill payment, instant activation phone cards, event ticketing and other online services. Cincinnati-based Star Bank and Cash Technologies have entered into an agreement to beta test ATM-X in the first quarter of 1998. The Company expects to announce other institutional partnerships in the near future.

Until now, ATMs have had limitations that prevented them from offering Point of Sale (POS) transactions or services that require information to be sent to multiple destinations, such as in electronic bill payment transactions where both the ATM (or credit card) issuer and the biller must be sent payment information.

Cash Technologie claims to have overcome these limitations by developing a new protocol and a proprietary host platform that drives the ATM-X, providing support for ATM, POS and EDI transactions from a single terminal.

The patent-pending network architecture also resolves the settlement differences that have historically prevented ATM and POS transactions from being performed on the same machine.

Another novel feature of the ATM-X system is its ability to support “verified” currency deposits, in which a customer can deposit paper money directly to their account for immediate credit through the machine’s bill acceptor. This can eliminate the usual “subject-to-count” envelope deposits where the customer’s available balance is not updated for 2 or 3 days until the envelope is counted. It also eliminates the losses sometimes suffered by financial institutions that receive foreign deposits (deposits to an ATM not owned by the customer’s bank).

Perhaps best of all, like the CoinBank coin deposit machines, the Company intends to install ATM-X at no cost to qualified bank and retail customers, sharing with them the fee income that the machine’s many services can generate.

According to Cash Technologies CEO Bruce Korman, “Cash Technologies(TM) has benefited from its unique vertical integration as a software/hardware developer and network operator. The ATM-X concept is a natural extension of the networking technology developed for the multi-faceted CoinBank coin counting machines the company has been installing at banks and retailers for years.”

Cash Technologies, Inc. is a privately held company based in Los Angeles. In less than five years, the company has enjoyed rapid growth by applying technology-based solutions to cash processing services including sorting, counting and packaging of coin and currency, as well as financial data processing. The company services over fifty clients in industries ranging from banking to transportation to supermarkets to payphone and vending services.


Advanced Home Banking

Online Resources & Communications Corporation, the leader in real-time interactive financial services, today introduced a major upgrade to its service that allows consumers access to the entire account relationship they have with their financial institution — in real-time – through the institution’s Web site, dial-up PC service, ScreenPhones and telephones.

For consumers, expanded account access means they can conduct transactions from any account accessible through their ATM networks and view not only checking and savings accounts online but also installment loans, mortgage loans, credit card accounts, lines of credit, money market accounts, certificates of deposit, individual retirement accounts and any other account they have with their financial institution.

Consumers will enjoy a higher level of customer service because customer service representatives, whether they are located in the institutions’ or Online Resources’ call center, can view all accounts, including the bill pay accounts, simultaneously with end-users. Together, they can see actions as they are conducted and work with real-time balances. Depending on the institution’s CSR procedures, modifications can be made online and in real-time. For example, end-users can change passwords and account nicknames and use them immediately. Moreover, each CSR session can be immediately logged, so for any subsequent session the CSR knows what has already happened.

Ray Crosier, executive vice president, client services, said no other provider of interactive financial services can offer such total access and state-of-the-art customer support experience. “The new features reflect our belief that the most effective service is one that makes the home banking experience comprehensive, easy-to-use, and centered directly around the financial institution,” Crosier said. “The more information we can provide the end-user, the more valuable the online service becomes — and the more loyal he or she becomes to the institution.”

Platform Upgrade Supports New Functionality and Scalability

The expanded access was made possible by Online Resources’ recent upgrade in its technology platform that now includes Tandem’s Himalaya server and ServerWare, a clustering software for the industry-standard NT platform. In addition, the platform upgrade also improved the reliability of the service and allows Online Resources to easily scale up operations as more end-users use home banking services.

Alex Seltzer, executive vice president, systems and technology, said the new platform provides for an unlimited growth path for the company. “In addition to the greater functionality, we can now easily handle the geometric increase in the number of transactions and end-users we are experiencing with our phenomenal growth,” Seltzer said. “Approaching 200 institutions signed and the rate at which we are launching them, we are experiencing a 10-20 percent per month growth rate in the number of end-users. And with improved account access, we expect even greater penetration of the customer base of our clients who have already launched.”

Financial Institutions Can Customize Service

A financial institution can set a profile for each type of account, determining the activity level that it wants to allow. Transactions are authorized through the ATM switch, leveraging Online Resources’ patented payment capabilities; other accounts will be “view only.” For ATM-accessed accounts, the institution can enable bill payments and transfers into or out of the account. For example, consumers will be able to pay, while online, mortgages and other loans it has through the institution, thereby decreasing costs for all parties concerned.

A key end-user benefit is that institutions can enable a line of credit or credit card account to fund bill payments or accept transfers. Thus, end-users can effectively get cash advances through their credit cards online to pay bills. They can pay off credit balances online.

Online Resources’ service has also been upgraded to provide institutions an unprecedented degree of control and flexibility in managing its CSRs. The institution can set a profile for each CSR, determining who can add, delete, edit or only view customer information, thereby providing for a high degree of internal security. “Our goal is to provide financial institutions with the greatest degree of flexibility to define the types of transactions they’ll support, the information they will provide and how it will be displayed,” said Carol Pirsch, director of product management. “This way each institution can customize its service to meet the needs of its customers.”

As with Online Resources’ current service, all data can be easily exported to personal finance management software such as Microsoft Money or Intuit’s Quicken. The company is planning to be OFX-compliant, further integrating its services with such front-end software.

The service is undergoing final testing and will be generally available after the first of the year. McLean, Va.-based Online Resources & Communications Corporation () provides electronic financial services to institutions for branding and resale to consumers. In addition to online banking, bill paying, securities trading, loan approval and electronic commerce solutions, Online Resources offers institutions support services such as consumer marketing, customer service, training, Web site design and hosting, network management, fulfillment, billing and technical support. Consumers access services through telephones, ScreenPhones or personal computers linked to the institution through private networks or the Internet. Online Resources, a privately held company founded in 1989, serves more than 165 financial institutions nationwide.


HiCo ATM Cards

High coercivity encoding has been incorporated into the new HiCo ATMjr plus CAS (Card Activation System), announced Dr. Ernest Burdette, president of Triton Systems, the leader in the off-premise ATM market. The ATMjr plus CAS is used by financial institutions to assist them in increasing ATM card usage and to provide a means for instantly issuing ATM cards to their customers.

Triton has introduced several advancements in technology for financial card issuance, and this role continues with the HiCo ATMjr plus CAS, according to Dr. Burdette. The new model incorporates many advanced hardware and software features, including auto-selectable high or low coercivity encoding, support for multiple card formats, and field replaceable battery. “We have taken the system that hundreds of institutions rely on and made it even better, making daily operation by banks more efficient and secure,” Burdette said.

High coercivity, a new magnetic stripe technology being introduced to the financial card industry, offers increased security to card issuers and cardholders. HiCo encodes a card’s magnetic stripe with a higher magnetizing force, making it more resistant to erasure. Accidental erasure is the cause of up to two-thirds of card reissues on existing low-coercivity (LoCo) cards. The new HiCo feature on the ATMjr plus CAS decreases maintenance costs and increases customer satisfaction.

VISA mandated the switch to high coercivity magnetic stripes on all issuer’s cards by July 1, 1998. All major card members have committed to support this standard. The HiCo ATMjr plus CAS can issue and encode the new high coercivity magnetic stripes used by all major card members. The new HiCo ATMjr plus CAS continues to support encoding and issuance of existing low coercivity cards.

Since 1989, financial institutions have made the ATMjr plus CAS the most popular combination of card activation and ATM customer demonstrations. Functions of the ATMjr plus CAS include instant ATM card issuing, customer-selected PINs, PIN changes, ATM demonstrations, card diagnostics and offset calculations, with support for DES, Visa DES, and Diebold algorithm encryption method.

About Triton Systems

Triton Systems is the nation’s leading manufacturer of cash-dispensing ATMs for off-site locations, the fastest growing segment of the ATM market. As one of the “Big Three” manufacturers of ATMs and ATM management software, it was named the 30th fastest growing company in the U.S. by Inc. Magazine in its October, 1997 “Inc. 500” ranking.

Triton’s product line includes the 9500 and 9600 series cash-dispensing ATMs, Triton Connect Software Package for accessing and controlling ATMs from a centralized location, ATMjr Demonstrators and Card Activation System for financial institutions, miniATM Scrip Terminal, and VendMate, a new peripheral that transforms Triton ATMs into a vending site for tickets, phone cards and other items.