From the News Wire

2008-02-06

Todos and CardTech announces strategic partnership.

Göteborg, Sweden and Caracas, Venezuela; Todos, the international authentication solutions supplier, and CardTech C.A., a leading Solution provider and system integrator in Venezuela, announces that a Partner Agreement has been signed between the two companies.

CardTech has become an official Todos eCode™ reseller and will introduce the Todos eCode™ comprehensive product line of secure authentication solutions to the Venezuelan banking market.

For the last eight years, CardTech has been the IT and Card supplier to the top five Venezuelan banks, who together possesses about 80% of the banking market shares in Venezuela. Internet banking is emerging fast in Venezuela, and it is expected to bloom dramatically during 2008 as the Central Bank and the governmental and fiscal regulatory entities will work actively to make banking available to all of its citizens.

The combination of CardTech’s well established local business relations and long term experience in the field banking technologies, and Todos’ strong and full-ranged authentication solutions will provide a solution for the numerous and increasing online fraud attacks and card cloning which are especially prevalent in Latin America. 

Maw-Tsong Lin, CEO Todos: “After visiting CardTech and several leading banks in Venezuela, we were impressed of CardTech’s vast network in Venezuela, and the market potential in this country. CardTech is a typical and successful example of Todos’ new partner strategy; that through a well established local partner, together with Todos trained local sales- and support team, offer the local bank customers the authentication solution and support they need.”

Cesar Sanchez, CEO CardTech: “Our company is always looking for the best technological solutions in the field of electronic banking and secured payments. Todos’ dynamic OTP solution along with its central server will mitigate fraud in the growing internet banking sector and the card cloning problems will be no longer an issue once the Venezuelan banks integrate this solutions in their servers. The partnership with Todos will enable CardTech to provide local banks with a vertically integrated range of high end and proven solutions which will add value and security for their costumers using credit and debit cards thru all payment channels. I am certain that Todos’ solutions will be the benchmark for secured transactions in this part of the world where fraud represents the greatest concern to the banks”.

For further information please contact:
Mr. Maw-Tsong Lin, CEO, Todos Data System AB
Telephone: +46 31 775 8800

Cesar Sanchez, CEO, CardTech
Telephone: +58 212 952 1104
www.cardtech.com.ve