AT&T To Develop “Smart Card” Applications With Japanese Firm
NEW YORK (AP) _ American Telephone & Telegraph Co. said Wednesday it has reached a joint development agreement for its ″smart card″ technology with Nippondenso Co. Ltd., a Japanese company that makes automotive parts and magnetic card readers.
Smart cards are plastic cards the size of a credit card that contain a computer chip. The chip can hold and process the equivalent of several typed page of information, such as medical records, bank records or security codes that pertain to the person carrying the card.
The cards can be read by specially equipped bank machines, cash registers, electronic locks and other devices.
Under the agreement, AT&T and Nippondenso will jointly develop applications for the smart cards. Nippondenso, which is part of the Toyota group, will have exclusive rights to market the applications in Japan and to make AT&T’s card reader-writer. AT&T may market the applications elsewhere.
″This agreement gives AT&T the opportunity to participate in one of the world’s fastest-growing markets for smart cards and applications,″ said Diane Wetherington, president of AT&T’s smart-card division.