Mybi Co., Ltd., the largest public transportation system and e-Currency infrastructure provider in Korea, announced today that it has entered into an agreement with Samsung SDS, Ltd., a global leader in IT solutions, and e-Smart Korea, a wholly owned subsidiary of e-Smart Technologies, Inc. (OTC Pink Sheets: ESMT), a leader in biometric smartcard technology, to distribute a multi-application e-Currency biometric smartcard.
The agreement calls for the distribution of more than 1 million "Mybi-eSmart Cards" in 10 major Korean cities currently serviced by Mybi's e-Currency card. The new card will integrate Mybi's e-Currency product into e-Smart's Super Smart Card(TM). The new smartcard will be a secure and convenient method of payment for a number of financial transactions, including merchants, internet malls, public transportation and vending machines.
The "Mybi-eSmart Card" project also calls for e-Smart and Samsung to implement a medical portal site for 10 targeted hospitals in Busan City, Korea, by mid-2005 for payment of hospital, pharmacy, medical and insurance fees.
Mybi is the leading electronic cash card provider in Korea and is the first dual interface card in Asia used in a wide range of applications including, transportation, retail, public services, internet e-commerce, banking, ID's and access control.
e-Smart Technologies, Inc., is the exclusive supplier for Asia and the US of the Biometric Verification Security System, ("BVS2(TM)"), featuring the Super Smartcard(TM), which experts believe to be the world's only commercially available smartcard with a full on-card system for biometric ID verification.