Infineon Technologies Announces Agreement to Supply Smart Card Chips to MasterCard Financial Institutions
The supply agreement simplifies the business relationship between Infineon and MasterCards members by establishing a cost structure to assure that MasterCard institutions of any size can purchase Infineon chips at volume pricing levels. Infineon has supplied these chips, known as secure microcontrollers, to MasterCards members since 1997. The companys currently available 66Plus series microcontrollers support the MULTOS and Java multiapplication smart card operating systems, and are used in applications that include some of the most advanced security features in the smart card industry.
As we continue to roll out our OneSMART initiative around the world, MasterCard is pleased to have the active support of a large cadre of technology providers, said Dr. Toni Merschen, senior vice president, Chip and Mobile Commerce/ Wireless, MasterCard International. "As we work to bring our members a wide variety of solutions through a multitude of choices, supply agreements with leading chip providers, such as Infineon, ensure that all of our member banks have competitive access to powerful and secure chip technologies.
OneSMART MasterCard represents a comprehensive, four-point approach for delivering the promise of smart cards to MasterCards members. These elements cover every aspect necessary to launch a successful smart card program, integrating the key areas of consumer value proposition, market-ready technology solutions, end-to-end implementation support and global marketing initiatives.
The MasterCard organization is one of the leaders in encouraging the adoption of smart cards, making significant contributions in technology development and in efforts aimed at the business and consumer marketing level, said Dr. Hermann Eul, chief executive officer of the Security & Chip Card ICs group at Infineon. We are looking forward to expanding our relationship with MasterCard and its members as smart cards become globally accepted for payment systems.
Infineon Technologies AG, Munich, Germany, offers semiconductor and system solutions for applications in the wired and wireless communications markets, for security systems and smart cards, for the automotive and industrial sectors, as well as memory products. With a global presence, Infineon operates in the US from San Jose, CA, in the Asia-Pacific region from Singapore and in Japan from Tokyo. In the fiscal year 2001 (ending September), the company achieved sales of Euro 5.67 billion with about 33,800 employees worldwide. Infineon is listed on the DAX index of the Frankfurt Stock Exchange and on the New York Stock Exchange (ticker symbol: IFX). Further information is available at www.infineon.com.
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Any statements in this document that are not statements of historical fact are "forward-looking" and therefore involve risks and uncertainties; actual results may differ from such forward-looking statements. Important factors that could cause actual results to differ from those indicated by such forward-looking statements include uncertainties relating to the acceptance of Infineons integrated circuit product offerings, and other business factors and uncertainties that are discussed in the companys filings with the U.S. Securities and Exchange Commission, including in the "Risk Factors" section of its Annual Report on Form 20-F for the year ended September 30, 2001. Infineon Technologies undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.