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.