Visa International, the worldwide credit and debit card network, and Standard Chartered Bank have jointly launched a multifunction smart card based on the Java programming language. The card combines credit, cash, secure internet shopping and loyalty applications on a single microprocessor. At a press conference in London, Visa and Standard Chartered showed one of the new cards being used to buy a watch in Singapore over the internet. The two organizations also demonstrated the use of the card to make credit payments and collect loyalty points on a traditional point-of-sale terminal. Developed in association with Sun Microsystems and French smart card manufacturer Gemplus, the new card is the first to combine two industry standards: VisaÆs Open Platform, a Java-based interface between card operating systems and applications, and SunÆs Java Card specification. Edmund P. Jensen, Visa InternationalÆs CEO, said the use of an open operating environment will make it easier for software developers to create applications for the card. After trials are completed in Singapore, the card will be rolled out to Taiwan, Hong Kong and other Asian countries next year.
