Smart Bits: Reloading of Electronic Purse Over the Net

Product Technologies Inc. said it has built into its SmartCity 4 electronic purse system the ability load cash onto chip cards via the Internet.

The capability, available in June and based on the PC/SC Work group standard for personal computer or kiosk input devices, "responds to a strong market need to provide increased convenience and security in electronic purse transactions," said Product Technologies chairman and president Bill Mangino.

The company cited a projection by Killen & Associates, a California- based consulting firm, that the "smart card revaluing market" will total $26.5 billion by 2005.

Product Technologies also announced SmartCity Lite, electronic purse software for smaller-scale or closed networks like bank pilots, office buildings, resorts, and cruise ships. It can manage multiple applications on up to 3,000 cards through one personal computer, and can be upgraded to SmartCity 4.