Smart Strategies

Consider these facts: For a country of over a billion people, there are less

than 20,000 operational smart card terminals–the principal indicator of smart

card usage by the general public. What’s more, SIM cards for mobile phones

account for almost 95% of the total smart card use in India. Think of the

potential market even if just these cards were to be upgraded to accommodate

more applications like loyalty programs and retail payments, and the picture

starts looking impossibly rosy.

It is precisely this rosy future that prompted George White to relocate to

India almost a year ago as CEO of iSmart International–tying up his future

with that of the company as well as the smart card industry’s fortunes in

India. White chalked out iSmart’s strategy for growth and persuaded two more

expatriates to cast their lot with iSmart–Colette Evans (head of sales) and

Simon Lang (head, center of excellence).

White’s strategy is pretty straightforward. In order to support and sustain

the company’s aggressive expansion plans within the smart card sector, iSmart

has clearly defined six key market segments. "These target markets are

integrated and synergistic whilst also being dedicated and focused," says

White.

Utilizing in-house software skills, iSmart is developing tailored solutions

to meet the specific needs of clients. The company is also working very closely

with the card payment industry to develop EMV applications on a variety of

interoperable platforms.

These have the effect of reducing the number of online authorizations,

passing on reduced acquiring costs for merchants, significantly reducing fraud

costs associated with counterfeit magnetic stripe cards, and providing a secure

platform to enable off-line cardholder verifications through utilization of PIN

or biometrics.

"Today, iSmart possesses expertise and is delivering solutions across a

broad band of integrated services including Europay, Mastercard and Visa (EMV),’’

claims White. "Drawing on our strategic alliances and in-house development

flair, we have started to build an impressive international client list and can

now demonstrate a variety of smart card solutions, EMV compliant terminals and

their associated banking and loyalty applications," he adds. The company

has supplied smart card solutions to a number of educational establishments,

retailers, Internet cafes, transportation organisations and financial

institutions both in India and overseas. Today, it has facilities in Bangalore,

New Delhi and Mumbai and offices in Dubai, London and New Jersey. It is also

planning to open sales, marketing and support service offices in Chennai,

Kolkata, Singapore and Cairo.

SHUBHENDU PARTH In New Delhi