FRENCH COMPANY BUYS L.A. CREDIT-CARD MAKER.Byline: Bloomberg Business News In a transaction that could propel pro·pel tr.v. pro·pelled, pro·pel·ling, pro·pels To cause to move forward or onward. See Synonyms at push. [Middle English propellen, from Latin the use of smart cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , France's Groupe Francois-Charles Oberthur acquired Kirk Plastic of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . Terms of the transaction between two of the world's biggest card makers weren't disclosed. Both businesses are privately owned. The credit-card-size devices incorporate specially designed chips called ``microcontrollers,'' which can keep track of stored cash and other information. In France and other European countries, the cards already are widely used for telephone calls, groceries and clothing. The cards got a mixed reception at the Atlanta Olympics, their first big U.S. trial. The cards, which Visa issued to visitors, were used to buy everything from candy to tickets for sporting events. Visa and MasterCard, two of Kirk Plastic's biggest customers, want to distribute more smart cards in this country, said Kirk spokeswoman Renee Handler A software routine that performs a particular task. It often refers to a routine that "handles" an exception of some kind, such as an error, but it can refer to mainstream processes as well. The term is typically used in operating systems and other system software. . Most are now manufactured overseas. None of Kirk Plastic's 270 employees will be fired, she said. The transaction could result in more jobs at Kirk Plastic if Oberthur expands the business. Kirk Plastic began 70 years ago making green eyeshades Green eyeshades are a type of visor that were worn most often from the late 1800s to the middle 1900s by accountants, telegraphers, copy editors and others engaged in vision-intensive, detail-oriented occupations. . It made plastic factory identification badges during World War II, before entering the credit-card business. The French company's investment will let Kirk Plastic make more sophisticated cards, which sell for about $2 apiece, 10 times the cost of traditional credit cards, Handler said. |
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