Identive Collaborates With Land Transport Authority On New Smart Paper Tickets For Singapore's Public Transit System
SANTA ANA, Calif. and ISMANING, Germany, Aug. 19, 2013 (GLOBE NEWSWIRE) -- Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV) has collaborated with the Land Transport Authority (LTA) in Singapore to design new smart chip-based transit tickets for the Southeast Asian country's extensive rail network. TransitLink, as the LTA administrator, has awarded Identive a three-year contract valued at $3.9 million to supply the tickets, which include near field communication (NFC) chips from Infineon Technologies AG (Frankfurt:IFX) (OTCQX:IFNNY).
"This project demonstrates Identive's commitment to leveraging our unique expertise to create smart transit credentials," said Dr. Manfred Mueller, executive vice president and COO, Identification Products for Identive. "The convenience of contactless tickets positions the market for explosive growth. The gating factor has been authorities' and agencies' confidence in the security of ticket readers and payment. Identive provides a proven solution as smart transit tickets are a core competency. We are confident our collaboration with LTA will ensure the new NFC tickets work within the country's transit infrastructure to help move Singapore's five million citizens and tourists efficiently and with ease."
Identive's end to end capabilities make it a one-stop shop able to tag, code, lock and print transit tickets for LTA. In the last two and a half years, Identive has quadrupled production capacity in Singapore to address a growing global market for contactless tickets for transport.Identive custom engineered a fanfold construction for the new paper tickets that delivers exceptional durability, from issuance through multiple trips within the transit network. The contactless technology embedded in the tickets facilitates rapid processing through automated fare gates at transit stations throughout Singapore. The smart transit tickets, each with its own unique identifier and intelligence, incorporate my-d™ move NFC chips from Infineon with 152 bytes EEPROM and 128 bytes user memory in accordance with ISO/IEC 14443 and NFC Forum TM Type 2 Tag standards. Identive embeds the chips within an aluminium-etched antenna on a PET inlay that is optimized for performance within Singapore's rail transit environment, providing a 10 cm read range to enhance ease of use for commuters. About Identive Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV) is focused on building the world's signature company in Secure ID. The company's products, software, systems and services address the markets for identity management, physical and logical access control, cashless payment, NFC solutions and a host of RFID-enabled applications for customers in the government, enterprise, consumer, education and healthcare sectors. Identive's mission is to build a lasting business of scale and technology based on a combination of strong technology-driven organic growth and disciplined acquisitive expansion. The company delivers up-to-date information on its activity as well as industry trends through its industry-leading social media initiatives and educational resource, AskIdentive.com. For additional information, please visit www.identive-group.com or follow on Twitter at @IdentiveGroup. Note: Identive and the Identive logo are trademarks of Identive Group, Inc, registered in many jurisdictions worldwide. All other company, product or service names may be trademarks or registered trademarks of others and are the property of their respective owners.
CONTACT: Identive Darby Dye +1 949 553-4251 firstname.lastname@example.org Annika Walther + 49 89 9595-5220 email@example.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV