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Schlumberger to Provide Solutions for Visa Smart Cards

Schlumberger Electronic Transactions signed a letter of intent with Visa International to become a partner in the Visa Smart program, which offers smart card solutions to Visa financial institutions worldwide.

Schlumberger said it will provide cards, terminals, and application development support and services for added value programs, such as loyalty, to Visa Members.

The Schlumberger product offering will include the whole range of Visa Smart Products and the Open Platform, a secure multiapplication card based on Java Card technology, as well as the company's MagIC range of technology-leading point-of-sale (POS) terminals.

The Schlumberger multiapplication card solution offered in the Visa Smart program utilizes open platform technologies compliant with the Java Card 2.0 industry standard, and meets security and application loading as defined by Visa for the banking community. Financial terms of the arrangement were not disclosed.

Schlumberger Electronic Transactions offers a flexible portfolio of smart card-based solutions, including cards, terminals, development tools, and support in open configurations for operators, developers, integrators, and distributors.

Schlumberger Electronic Transactions is a business segment of Schlumberger Limited, a $10.65 billion global technology service company providing oilfield services, natural resource management, transactions-based technology, and semiconductor test equipment.