EDS, Visa Get Smart
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Visa Smart is designed to help financial institutions implement comprehensive smart card programs. Consultant firm EDS will act as a primary systems integrator for Visa Smart, providing systems consulting, project management and implementation services to Visa members participating in the initiative.
Visa predicts that smart cards--plastic cards containing an embedded microchip--will comprise one third of its card volume by the year 2002.
"The Visa Smart alliance is a major step in the evolution of the online consumer market, with distinct advantages for financial institutions, merchants and consumers," said John Meyer, president of EDS' Diversified Financial Services unit.
"Our aim, through Visa Smart, is to ensure that Visa's member banks have the right support and to enable them to make the transition cost effectively and comprehensively," said Judy Smythe, Visa International's senior vice president of chip products. "EDS will help to provide the right expertise and resources to do this."