Frost & Sullivan Recognizes Welcome Real-time for Industry Innovation & Advancement Leadership for Smart Cards Payment Software in Asia Pacific Market.

Singapore — September 22, 2006 — Welcome Real-time a leading payment software provider, received an award from Frost & Sullivan for Industry Innovation & Advancement Leadership for Smart Cards Payment Software in Asia Pacific Market, during the inaugural 2006 Industrial Technologies Awards Banquet at the Grand Copthorne Waterfront Hotel in Singapore on 22 September, 2006.

This Award recognizes the company for its broader, more comprehensive participation in the industry and for its contributions to the advancement of the market.

In his address on the Automation and Electronics sector, Sanjay Singh, Director of Industrial Technologies said, "Frost & Sullivan’s focus on the Smartcards, RFID and Semiconductors sectors that encompasses all elements of the value chain has allowed us an extremely good understanding of these industries. Our presence in Asia has provided the opportunity to interface with the leading and emerging industry participants in these areas. All these industry sectors, especially Smartcards and RFID, are witnessing rapid growth in Asia."

"For instance, the smartcards market in APAC was estimated to be around 1 billion units in 2005 with a growth rate of around 20 percent driven by the major applications in telecom, banking and finance as well as transit and ID & security applications." he added.

Continuous positive adoption toward smart card based banking (financial and loyalty) cards is primarily due to the growing awareness of its benefits through other key application deployments such as telecommunication and transportation. Key benefits of smart cards for banking sector include their security features, memory size of cards, capable of hosting several applications on a card and type of interface they offer.

"Smart cards are expected to reduce the significant fraud levels associated with magnetic stripe cards in banking applications. The security features offered through smart cards increases consumers’ confidence to conduct transaction both online and offline. For the past couple of years EMV has been the push factor to migrate banking and payment cards from magnetic stripe to smart card based technology in this region. Reasons for migration vary from country to country. Three main reasons are fraud reduction, competitive differentiation and government or regulator mandates." said Program Manager for Smart Cards and Auto ID, Jafizwaty Ishahak.

Welcome offers a variety of payment software products, each designed for a specific component of a bank’s payment infrastructure. The company’s XLS products sets EMV free from the limited mindset that constrains EMV simply to offline PIN verification and other security features. In the year 2005, Welcome experienced positive growth with approximately 36 percent increase in its sales revenue. In the same year, approximately 13.2 percent of its total revenue was contributed by its APAC market.

"We are very honoured to receive this prestigious award. Welcome focuses on helping banks and the banking industry employ the use of chip cards to solve major problems. Our introduction of the XLS payment software framework, which enhances EMV at each point in a bank payments infrastructure, has allowed us a unique stand within the current payments industry.

Payment technology suppliers have primarily focused on EMV chip cards as a way to fight card fraud, which becomes a major problem when it reaches 10 or 15 basis points. Welcome, on the other hand, has addressed this issue very successfully using the same EMV chip technology to fight interchange erosion, which has been shown to represent much greater losses of 50 or 60 basis points or more." said Chairman of Welcome Real-time, Aneace Haddad.

About Frost & Sullivan

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit

Media Contact:

Donna Jeremiah
Corporate Communications - Asia Pacific
P: +603.6204.5832

About Welcome

Welcome is the world’s leading provider of payment software that utilizes the full capabilities of EMV standard (Europay-MasterCard-Visa) chip credit and debit cards to create a much more exciting and richer payment experience. Payment commoditization, resulting in rate wars and fee reforms, has recently been shown to cost banks five to ten times more than fraud. EMV cards without Welcome’s software can only combat fraud, whereas the same cards with Welcome’s software can also fight commoditization, for essentially the same cost as fraud alone. Welcome recently won 'ROI of the Year Award' from The Banker magazine. The company works with major banks and financial institutions around the world. Welcome is headquartered in Aix-en-Provence, France, with offices and R&D facilities in Singapore, London, Philadelphia and Sao Paulo. For more information, visit:



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