YourNet Inc. said it will ship one million smart card chips with its operating system to Silone MagCard, the People's Republic of China's largest smart card manufacturer and supplier.
The Siemens chips contain YourNet's open architecture operating system. Shipments are expected to begin by the fall.
The cards will be used to automate paper reporting procedures between Chinese companies and the government. Additionally, MagCard will include the YourNet operating system on smart cards it manufactures and will produce cards for YourNet projects.
YourNet is promoting a smart card community network where merchants, government services, and banks can jointly participate in open, multipurpose transaction systems.