Aveso Announces Membership in the Smart Card Alliance
Dow spin-out enables new generation of smart cards through high-volume, low-cost printed electronic display technology
Minneapolis, April 12, 2005–Aveso, Inc., a pioneer in the development of ultra thin, ultra low-power printed electronic displays, announced today its membership in the Smart Card Alliance (SCA), a not-for-profit organization formed in 2000 for the purpose of educating business and the public about smart card technology and its many uses. SCA membership provides Aveso an opportunity to generate awareness and drive adoption of its printed electronic displays in a range of smart card applications. Through their integration into smart cards, Aveso displays will enable immediate access to critical information stored on a smart card, away from reader infrastructure. Display-enabled smart cards are expected to help card issuers grow revenues, reduce fraud and theft, and enhance safety and security.
A recent spin-out from The Dow Chemical Company (NYSE: DOW), Aveso develops paper-thin, ultra low-power microelectronic devices that feature the company’s proprietary printed electronic display technology integrated with electronic components including microprocessors, power, radio frequency (RF) antenna and user interface. The display devices, typically less than half the thickness of a standard credit card, are designed for integration into the global smart card manufacturing base and can be produced cost-effectively in the hundreds of millions to billions of units. Early target applications include display-enabled financial cards that generate a one-time password (OTP) to support secure online transactions and eliminate the need for a separate hardware token. They can also be used within stored value cards to provide immediate access to balance and transaction information.
“We are pleased to welcome Aveso to the Smart Card Alliance,” said Randy Vanderhoof, executive director of the Smart Card Alliance. “The integration of flexible electronic displays has been long envisioned as part of the smart card product roadmap. Aveso’s low-cost, high-volume display technology is an example of the tremendous innovation from U.S. companies that helps drive the growth of the smart card market to deliver new capabilities for potential markets around the world.”
“The Smart Card Alliance provides an outstanding forum for educating the industry about our cutting-edge display technology and advancing standards for display-enabled smart cards that will support a new generation of smart card products,” said Steve Quindlen, Aveso president and chief executive officer, “We are proud to join the global roster of companies supporting the Smart Card Alliance.”
About the Smart Card Alliance
The Smart Card Alliance is a not-for-profit, multi-industry association working to accelerate the acceptance of smart card technology. Through specific projects such as education programs, market research, advocacy, industry relations and open forums, the Alliance keeps its members connected to industry leaders and innovative thought. The Alliance is the single industry voice for smart cards, leading industry discussion on the impact and value of smart cards in the United States. For more information about the Smart Card Alliance, please visit their website at http://www.securetechalliance.org.
About Aveso, Inc.
Aveso, Inc. is a pioneer in the development of ultra thin, ultra low-power printed electronic displays produced using existing print manufacturing capacity. The Company’s display devices, typically less than half the thickness of a standard credit card, make it possible for the first time to integrate electronic displays into high-volume printed products such as credit cards and packaging labels. Aveso display devices are designed for integration into the global smart card and label manufacturing base and can be scaled cost-effectively in the hundreds of millions to billions of units. For more information, please visit http://www.avesodisplays.com.