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17th October 2006 – CARDTREND SYSTEMS SDN BHD SECURE US$450,000 CONTRACT IN INDONESIA
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October 17, 2006 (Kuala Lumpur) – Cardtrend Systems Sdn Bhd (“Cardtrend”) announced today that its has achieved a major breakthrough in the Indonesian cards and payments
market by signing a contract to license the use of its payment and loyalty card systems with PT Jaring Synergi Mandiri (“JSM”) of Jakarta, Indonesia.
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JSM is a Payments and Loyalty-Rewards Operator cooperating with several large banks in Indonesia. With operations in Jakarta and Surabaya, JSM is also a member of a consortium
appointed by Pertamina to issue Fleet/Fuel payment cards, called the Pertamina GAZ KAD, to be accepted at about 3,500 Pertamina gas stations. Pertamina is the largest oil company
in Indonesia and competes with Petronas, Shell and other multinational oil companies. This new Cardtrend contract will contribute US$450,000 to 2006/2007 revenue, plus recurring
maintenance income of about US$100,000 annually.
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The solutions provided by Cardtrend to JSM utilize a common card processing engine for the following business processes:
- electronic top-up of prepaid airtime;
- issuance of JSM’s cash cards, with loyalty-rewards feature, to be accepted at designated merchants/retailers and over 25,000 taxis;
- Processing of payment cards for purchasing fuel and fuel related products at over 3,500 Pertamina Gas Stations (called the GAZ KAD).
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All of the above will be processed on an on-line-real-time basis. The first component of the system is projected to go live in December 2006.
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Franky Suhenda, Director President and CEO of JSM Indonesia, said: “with Cardtrend sharing their industry experience, and with the robust and
features-rich solution provided by Cardtrend, this will put our JSM Cash & Loyalty-Rewards Cards in the fore front against our competitors”
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KK Low, Managing Director of Cardtrend and Chief Technology Officer of Asia Payments added: “one of our strength is our industrial experience
skill set, by sharing our industry experience and knowledge domain with our clients will assist to ensure successful solutions implementation”
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Contact: KK Low
Cardtrend Systems Sdn. Bhd.
KK Low, Managing Director
Tel No: +603 7960 8380
Fax No: +603 7960 8381
Email: kklow@cardtrend.com
Web-site: www.cardtrend.com
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