Dexit and INSIDE Contactless Enter Multi-Year Agreement

Friday 17 December 2004 11:16 CET | News

Dexit Inc., the creator and operator of the Dexit(R) electronic payment facilitation service for small transactions, and INSIDE Contactless, pioneer in contactless technology and its market development, have entered into a multi-year non-exclusive master supply agreement for INSIDEs radio frequency identification (RFID) technology.

Covering Dexits range of consumer contactless tags and other forms, and the RFID reader technology built within Dexits point-of-sale (POS) merchant solution, the agreement assures Dexit immediate access to at least 500,000 and as many as one million contactless forms at a preferred declining price. We currently have more than 37,000 RFID tags and cell phone tags in consumers hands today, and this agreement ensures that we are prepared to provide our issuing partners with a continuous supply of RFID forms as we expand the Dexit Service to merchants across the Greater Toronto Area 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 tags in December and an additional 1,500 RFID couplers in first-quarter 2005 to be used in Dexits POS merchant solution. This brings 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, Dexit and INSIDE 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 representing industry sectors including Contactless Payment, ID, Mass Transit, and the Mobile world.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce