INSIDE and Dexit Enter a Multi-Year Master Supply Agreement for RFID Technology

Wednesday 22 December 2004 13:15 CET | News

INSIDE Contactless, pioneer in Contactless technology and its market development and Dexit Inc., the creator and operator of the DexitT electronic payment facilitation service for small transactions, today announced the firms have entered into a multi-year non-exclusive Master Supply Agreement for INSIDEs radio frequency identification (RFID) technology.

Covering Dexits range of contactless consumer form-factors and the RFID reader technology built within Dexits point-of-sale (POS) terminals, the Agreement assures Dexit immediate access to at least 500,000 and as many as 1 Million contactless keyfobs at a preferred declining price. We currently have more than 37,000 RFID keyfobs and cell phone tags inconsumers hands today, and this Agreement ensures that we are prepared to provide our issuing partners with a continuous supply of RFID form-factors as we expand the Dexit Service to merchants across Toronto, its surrounding communities and eventually into other Canadian cities, said Renah Persofsky, President and Chief Executive Officer of Dexit. The first orders to be delivered under this Agreement include 50,000 keyfobsand an additional 1500 RFID couplers used in Dexits point-of-sale (POS) merchant solution, bringing the total number of Dexit devices available to be deployed to merchants to nearly 2,500, including those already installed. With this multi-year agreement, INSIDE and Dexit reaffirm their commitment to promoting contactless solutions worldwide and to ensuring interoperability between devices and services. Dexit recently joined INSIDEs sponsored IN-CLUB as a founding Gold Member. IN-CLUB is a non-profit industry association founded with members across all industry sectors including Contactless Payment, ID, Mass Transit, and the Mobile world.

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Categories: Payments & Commerce | Cards
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