Inside Contactless, a provider of advanced, open-standard contactless
chip technologies, announced the company has been recognized with the
2008 Frost & Sullivan North American Contactless Smart Cards Growth
Excellence of the Year Award, in recognition of its role in shaping
contactless payment technology in the smart card industry.
The Frost & Sullivan Growth Excellence of the Year Award is bestowed
each year upon the company that has demonstrated excellence in
implementing and sustaining growth within shipments, revenues and
profitability, and whose strategy will have a lasting impact on the
market.
Frost & Sullivan credits Inside as one of the first companies to have
designed a multi-application platform for contactless payment
functions. The research and growth consulting firm recognized that such
an early move propelled the company into a position of excellence in
terms of technology innovation, enhanced its understanding of the
market, and helped it gather valuable experience to stay ahead of
competition. Frost & Sullivan also attributed Inside's exponential
sales growth primarily to its low-power, flexible MicroPass intelligent
payment platform, which is designed specifically to support the
contactless bank card market with extension into transit fare
collection, access, control, and retail loyalty applications.
"Inside has achieved credibility in the industry not just by being a
pioneer in contactless payment, but also by going the extra mile to
solve consumer needs and address concerns," said Shyam Krishnan,
research analyst at Frost & Sullivan. "With a strong position in terms
of technology innovation, an established name in the market, a loyal
and wide partner network, and a booming market in which to operate,
Inside Contactless is poised to become one of the leading players in
the contactless smart cards market space."
"It is very gratifying to be recognized for our leadership and
excellence in this industry. The rapid acceptance of contactless
payments in the U.S. has been a great reward for the Inside Contactless
team," said Remy de Tonnac, chief executive officer. "We will not rest
on these laurels, however, and we have many exciting new developments
in the works to ensure that we keep meeting our customers' expectations
and maintain our drive in this industry."
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