ELECTRONIC COMMERCE UPDATE

July/August€1996

Philips Establishes Smart Transaction Center

Philips Electronics (Eindhoven, The Netherlands) has established a Smart Transaction Center in Burlington, Mass., to develop new solutions for personal financial transactions and accessing networked information. The Smart Transaction Center is home to a new business unit -- Philips Smart Cards and Systems USA. The company already operates a successful smart card development operation in Europe.

The Center in the U.S. initially fuses smart card capability with Philips Home Services (screen phones) and related Semiconductor units, creating a facility offering an integrated approach to solutions for the financial services industry and other fields.

Unique to the Smart Transaction Center will be its ability to provide customers with a range of options, including complete electronic commerce systems, custom chip sets, cards, card readers and back-end products.

Additionally, activity generated by the Center will help the U.S. smart card industry create new applications and services for Philips Semiconductor's range of devices for contact and contactless smart card systems.

In addition to uses within the already well-defined sector of electronic interactive commerce, Philips foresees smart cards offering greater freedom to owners of popular consumer products such as cellular telephones, home entertainment systems and security systems.
  • Electronic Commerce Update Search Engine
  • Click here to return to Table of Contents for the Electronic Commerce Update July/August issue.
    Electronic Commerce Update Copyright © 2020 - Lionheart Publishing Inc. All rights reserved.