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Gemplus Technology Powers Target Corporation's New Target smart Visa™ Card
First U.S. retailer to offer smart Visa cards will issue several million GemXpresso cards to enhance customer relationships
Luxembourg, 1 August 2001 -- Gemplus International S.A (NASDAQ:GEMP and Euronext: Sivocam), the world’s leading provider of solutions empowered by smart cards, today announced the execution of a major contract with Target Corporation (NYSE: TGT), the fourth largest general merchandise retailer in the United States, to provide smart cards and in-home readers for the Target smart Visa card launch, beginning this autumn.
Target will take a lead role in advancing smart cards in the U.S. both by issuing smart cards through its Retailers National Bank affiliate and by installing point of sale terminals that accept chip payment in all Target Stores in 2002.
Industry milestone
"Smart card technology creates opportunities for Target to strengthen our relationship with our guests by providing greater convenience, increased value and expanded rewards programs," said Jerry Storch, vice chairman of Target Corporation. "We are pleased to work with Gemplus to continue to bring creative and exciting experiences to our guests."
"Target Corporation's vision to employ smart card-powered solutions as successful tools for maximizing customer relationships exemplifies their tradition of market innovation," said Antonio Perez, President and CEO of Gemplus. "Gemplus is privileged to be taking part in this industry milestone with Target."
Creative and flexible marketing programs
Today's retail and financial services markets face the challenges of improving brand affinity, increasing product lift, and enhancing operating efficiencies to remain competitive. Smart card solutions help answer these challenges by enabling retailers and banks to implement creative and flexible marketing programs and market to their customers across multiple channels, including the Internet, television set-top boxes, and mobile phones.
Complete solutions for the financial services market
Illustrating the growing strength of smart cards in the Financial Services sector, the agreement with Target represents Gemplus' 4th major smart Visa deployment within the last year. Target joins the ranks of other smart Visa issuers such as First USA, Fleet Credit Card Services, and Providian Financial Corporation, all of whom worked with Gemplus to quickly bring to market their smart Visa programs on its Java CardTM-based GemXpresso platform.
"Gemplus has been an active participant in the smart Visa program," said Patrick Gauthier, Senior Vice President, Smart Card Applications, Visa USA, "Their willingness to work at developing complete solutions for the financial services market has been a major factor in Visa's success."
IT SHOULD BE NOTED THAT CERTAIN OF THE STATEMENTS CONTAINED IN THIS RELEASE MAY CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934. THESE STATEMENTS RELATE TO FUTURE EVENTS OR OUR FUTURE FINANCIAL PERFORMANCE AND INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS INCLUDING WITHOUT LIMITATION CUSTOMER DEMAND FOR OUR PRODUCTS, SUPPLY OF KEY COMPONENTS, DEVELOPMENTS IN THE MARKET AND ADVANCES IN TECHNOLOGY THAT MAY CAUSE OUR OR OUR INDUSTRY'S ACTUAL RESULTS, LEVELS OF ACTIVITY, OR PERFORMANCE TO MATERIALLY DIFFER FROM THOSE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. FOR A MORE DETAILED DESCRIPTION OF THESE FACTORS, PLEASE SEE GEMPLUS’ MOST RECENT FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT EXPECTATIONS REGARDING FUTURE EVENTS AND OPERATING PERFORMANCE AND SPEAK ONLY AS OF THE DATE OF THIS RELEASE. WE ARE UNDER NO DUTY TO UPDATE OR REVISE ANY OF THE FORWARD-LOOKING STATEMENTS AFTER THIS DATE OR TO CONFORM SUCH STATEMENTS TO ACTUAL RESULTS OR TO REFLECT THE OCCURRENCE OF ANTICIPATED RESULTS.
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About Gemplus
GEMPLUS: the world's number one provider of solutions empowered by Smart Cards (Gartner Dataquest 2001).
Gemplus helps its clients offer an exceptional range of portable, personalized solutions that bring security and convenience to people's lives. These include mobile internet access, inter-operable banking facilities, e-commerce and a wealth of other applications.
Gemplus is the only completely dedicated, truly global player in the Smart Card industry, with the largest R&D team, unrivalled experience, and an outstanding track record of technological innovation.
Gemplus trades its shares on Euronext Paris S.A. First Market and on the Nasdaq Stock Market® as GEMP in the form of ADSs. Its revenue in 2000 was 1.205 billion Euros. It employs 7800 people in 37 countries throughout the world.
Gemplus: Your Passport to the Digital Age
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Contacts
Gemplus, Marielle Bricman
tel: 33 4 42 36 55 96
email: marielle.bricman@gemplus.com
Gemplus Americas, Kerry Butler
tel: 1 215-390-2840
email: kerry.butler@gemplus.com
©2001 Gemplus All rights reserved. Gemplus,
the Gemplus logo and GemSense are trademarks and service marks of Gemplus
S.A. and are registered in certain countries. All other trademarks and
service marks, whether registered or not in specific countries, are the
property of their respective owners.
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