Consumer Payment Card News

SmartGift

FAR POINT Consulting and Gemplus are joining up to provide ‘SmartGift’, a smart card-based gift certificate solution for retailers. SmartGift, which was developed by FAR POINT using Gemplus smart cards, does away with the need for cash refunds, eliminates incidents of fraud from counterfeit gift certificates, and reduces accounting errors common in labor-intensive paper-based systems, while keeping the customer linked to the store for the full value of the gift certificate. Retail store personnel will simply insert the smart card into the reader, which will then decrement a specified amount from the value of the card for the purchase being made.

FULL STORY:
FAR POINT Consulting announced that they will join with Gemplus to provide SmartGift, a smart card-based gift certificate solution for retailers.

SmartGift, which was developed by FAR POINT using Gemplus smart cards, does away with the need for cash refunds, eliminates incidents of fraud from counterfeit gift certificates, and reduces accounting errors common in labor-intensive paper-based systems — while keeping the customer linked to the store for the full value of the gift certificate.

The solution consists of the Gemplus card, smart card readers and FAR POINT’s software. Retail store personnel will insert the smart card into the reader, which will then decrement a specified amount from the value of the card for the purchase being made. The card can be used repeatedly until the full face value is depleted.

FAR POINT will be demonstrating SmartGift in booth No. 1249 at the CardTech SecurTech’98, at the Washington Convention Center in Washington, D.C., April 28-30, 1998.

“We are seeing increasing interest in electronic forms of payment in the retail market,” said John Landwehr, director of product marketing for Gemplus. “Smart cards are ideal for this type of application because they resolve the litany of problems retailers face using an off-line Point-of-Sale system with traditional gift certificates.”

“We’re very pleased to extend our successful association with Gemplus. By packaging our leading edge software with smart cards and readers from one of the most respected names in the industry, we are able to offer our customers a complete solution,” said Rob Meredith, president of FAR POINT Consulting.

About FAR POINT Consulting Inc.

FAR POINT is a leading provider of business solutions to the electronic banking, retail and point-of-sale industries. Providing consultancy, training and custom software engineering solutions to its customers, FAR POINT’s expertise extends across smart cards, magnetic stripe cards, telecommunications and device connectivity, with applications including credit/debit cards, loyalty programs, electronic benefits transfer (EBT) and a variety of other card activated programs. Information about FAR POINT’s products and services can be found on the World Wide Web at: http://www.farpoint.com.

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