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SCM Microsystems Introduces Mobile, Contactless, Multi-Application Solution for Secure Access and Payment Transactions
Tuesday, October 07, 2008
Takes Equity Stake in TranZfinity Intended to Promote Contactless Authentication Devices
ISMANING, Germany, Oct. 7 /PRNewswire-FirstCall/ -- SCM Microsystems, Inc.
(Nasdaq: SCMM, Prime Standard: SMY), a leading provider of solutions that open
the Digital World, today introduced @MAXX(TM) prime, the first product of a
new family of portable USB devices that enable secure electronic transactions,
secure data storage and secure access. The entire range of new SCM @MAXX
devices are expected to include secure smart card functionality alongside
flash storage to provide strong, mobile authentication for a range of
electronic applications, including financial services, transportation,
e-payment, PC and physical access, digital signature and public key
infrastructure (PKI).
Immediately available is SCM's @MAXX prime, a device that offers a unique
combination of fixed and expandable memory space along with a reader for small
SIM-sized dual interface smart cards (ID-000), with a built in antenna and
supporting both contact and contactless technology. @MAXX prime also includes
on-board flash memory, a microSD card reader and expansion capabilities via a
female USB connector. Based on the @MAXX family concept, @MAXX NFC is planned
to be introduced later this year. @MAXX NFC will enable NFC-based applications
on mobile phones and other devices lacking NFC capabilities. SCM plans to
introduce further @MAXX models next year.
"Multiple secure applications can be implemented with @MAXX prime --
something that is achieved due to the unique product architecture," said Felix
Marx, chief executive officer of SCM Microsystems. "Our @MAXX devices enable
secure access and secure transactions for a variety of markets, including
mobile payments, on-line security, on-line banking and transportation. Hence,
they readily address the growing global demand for a mobile, contactless
solution that will allow people to securely conduct all their daily business
using one device -- from managing their data, to riding the train to work, to
entering the workplace, to checking their bank balances, to paying for
dinner."
When connected to any free USB port and used with smart card technology,
SCM's @MAXX prime can provide strong authentication for access to PCs and
networks, as well as digital signature and encryption tools. It can also
provide secure PIN protection for accessing on-board portable flash data
storage. When unconnected, @MAXX prime provides contactless smart card
functionality, which can facilitate contactless payment or contactless
physical access to buildings. As a result of these features, @MAXX prime is
well suited for use in business as well as in the private environment. For
example, in an enterprise environment @MAXX prime could be used to
authenticate an employee's identity and grant entry to the corporate campus;
to securely log on to both the employee's PC and the corporate network; to
securely store documents or presentation materials; and to make contactless
payments at the company cafeteria. In addition, the same @MAXX prime device
can be used to securely access the employee's bank accounts and to enable
other contactless applications such as e-payment or loyalty programs.
To further expand the capabilities of and bundle services to @MAXX prime
and other planned products in the @MAXX family, SCM has invested $2.5 million
to acquire an equity stake in TranZfinity, Inc., a privately held company
based in Carlsbad, California that develops trusted devices and associated
services for secure access and electronic transactions.
"Our cooperation with TranZfinity has been very successful to date," said
Marx. "TranZfinity's services and applications roadmap complements SCM's
contactless strategy and should enable us to quickly introduce new
multi-application solutions for a variety of market verticals, such as
m-commerce, logical and physical access, banking and loyalty. Additionally,
TranZfinity's global services platform of application software and services
will provide our @MAXX customers with a secure 'marketplace' in which service
providers and end users can transact business. Our investment in TranZfinity
supports our mutual work together while enabling SCM to participate in
TranZfinity's success."
@MAXX prime is available immediately worldwide. More information can be
found on the SCM website at http://www.scmmicro.com.
About SCM Microsystems
SCM Microsystems is a leading provider of solutions that open the Digital
World by enabling people to conveniently access digital content and services.
The company develops, markets and sells the industry's broadest range of
contact and contactless smart card reader technology for secure PC, payment
systems, network and physical access, and digital media readers for transfer
of digital content to OEM customers in the government, financial, enterprise,
consumer electronics and photographic equipment markets worldwide. Global
headquarters are in Ismaning, Germany. For additional information, visit the
SCM Microsystems web site at http://www.scmmicro.com.
NOTE: This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These include our
statements contained above regarding our ability to quickly introduce new NFC
products; our expectations regarding benefits for our customers from
TranZfinity's application services platform; and TranZfinity's ability to
continue to deliver its products and services based in part on SCM's
investment in the company. These statements are subject to risks and
uncertainties which may cause actual results to differ materially from those
contemplated herein. There is no assurance that we or TranZfinity will be
successful in developing or introducing additional NFC or other contactless
readers or terminals to the market. Any products that we do develop may not be
competitive with other products in the market. Even with new contactless
product offerings, the market for contactless technologies may not grow as
anticipated, and we may not be able to expand the market for our products. For
a discussion of further risks and uncertainties related to our business,
please refer to our public company reports, including our Annual Report on
Form 10-K for the year ended December 31, 2007 and subsequent reports, filed
with the U.S. Securities and Exchange Commission.
Note: @MAXX is a trademark of SCM Microsystems. All other trademarks are
the property of their respective owners.
SOURCE SCM Microsystems, Inc.
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