Key Tronic Corp. to Develop Smart Card Reader Devices for Broad-Based Consumer Applications; Cards to Hasten Electronic Cash, Individual Secure Access to Banking, Insurance and Billing Records.SPOKANE, Wash.--(BUSINESS WIRE)--Sept. 30, 1996--Key Tronic Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : KTCC KTCC Kiarti Thanee Country Club (Thailand) ), the world's largest independent producer of keyboards, today announced its intent to work with VeriFone, Inc., to develop smart card reader-enabled keyboards to bring the convenience of a bank automatic teller machine See ATM. into the homes of millions of consumers worldwide, enabling them to replace cash and access dozens of personal services personal services n. in contract law, the talents of a person which are unusual, special or unique and cannot be performed exactly the same by another. These can include the talents of an artist, an actor, a writer, or professional services. anytime, anywhere. In the next months, Key Tronic will develop keyboards with VeriSmart-enabled integrated card readers, to be located at the side or back of a standard 104-key, Windows 95-compatible keyboard design. The user will "plug the card in," and leave it in the slot while the device interacts with the card's imbedded silicon chip to initiate a transaction with their bank, utility company, insurance company, etc. Key Tronic is also working to develop a variety of interactive smart card-enabled access devices in addition to keyboards. VeriFone's VeriSmart System, announced separately today, is being designed to include of three main components: a consumer access device like the Key Tronic card-reader keyboard, client/server Java-based software, and a range of support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to market and deploy a successful smart card program. The server software will enable these devices to electronically link consumers to their banks, telephone and utility companies, retail merchants and other personal services. Several other companies -- CIDCO CIDCO City and Industrial Development Corporation (Mumbai, India) , Gemplus, GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) , Hewlett-Packard, Mondex International, Scientific Atlanta and WebTV -- also announced support for VeriSmart and plans to develop further technologies around the system. "VeriFone and its partners are taking an aggressive role in the development of smart card applications for the consumer marketplace," said Hatim Tyabji, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of VeriFone. "Using any one of Key Tronic Corp.'s smart card-reader devices, a consumer can access everything from electronic cash from their bank, shopping on the Internet, status of loyalty programs such as frequent flyer frequent flyer Hospital practice A popular term for a Pt who is regularly admitted to a particular ER or health care facility, for various reasons miles, or pre-approval for a doctors visit from their insurance company." Key Tronic brand-name keyboards available separately in retail stores are the new Lifetime line, featuring the latest trackball A stationary pointing device that contains a movable ball rotated with the fingers or palm. From one to three keys are located in various positions depending on the unit. Years ago, Kensington Microware popularized the trackball with its Turbo Mouse for the Macintosh. , touchpad A stationary pointing device that provides a small, flat surface that you slide your finger over using the same movements as you would a mouse. You can tap on the pad's surface as an alternate to pressing one of the touchpad keys. See mouse, trackball and pointing stick. , and infrared wireless technology and a patented motion-detector dirt-resistant mouse with a guarantee for life. Street prices for Lifetime products start at $29.99. About Key Tronic Corp. Spokane, WA-based Key Tronic Corp. is the world's largest independent producer of keyboards and manufactures PC peripherals for an array of industry-leading Original Equipment Manufacturers. Key Tronic Lifetime products are available in retail stores around the country, featuring the latest trackball, touchpad, and infrared wireless technology and a patented motion-detector dirt-resistant mouse with a guarantee for life. Street prices for Lifetime products start at $29.99. Founded in 1969, Key Tronic Corp. holds nearly 40 patents for innovative keyboard technology, and was instrumental in nearly every technological breakthrough in the keyboard industry, including reed switch technology, ergonomic keyboards and mice, notebook keyboards, optical-mechanical mouse technology, wireless keyboards and many others. Recent innovations include the InTouch multimedia module for Toshiba's new Infinia home PCs. Key Tronic employs over 2,500 people worldwide. The company's 1996 sales were $201 million in fiscal year ended June 29, 1996. Information about Key Tronic and its products can be found on the World Wide Web at http://www.keytronic.com. -0- Note to Editors: Java is a trademark of Sun Microsystems Inc. CONTACT: Key Tronic Corp. Anja Krammer, 509/927-5299 (Marketing Director) Ronald F. Klawitter, 509/927-5295 (Investor Relations) or Copithorne & Bellows for Key Tronic Corp. Amy Tenderich, 415/975-2283 (Press) |
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