Americom Technologies, a local technology based infrastructure building company, has launched Direct Universal Electronic Transactions (DUET) as Smart Card offline payment solution.
In this connection the company recently organised a seminar on Offline Payment Solution.
The CEO of the company, Atiq Rehman introducing his new product said that it was a highly secure offline payment platform for various market and business transactions performed directly from client card to merchant card.
Communication between the cards was established either via a terminal in retail shop, canteen or on-the-go with a small portable device or through a smart card reader connected to a PC/network for internet transactions, he added.
He remarked that the product was a competitive and innovative financial solution for Pakistani markets.
He pointed out that the product had over 500 installed base world-wide (80 percent banks, 20 percent utilities and other companies).
CEO, BGS Smart Card system, Leonid delivering the keynote speech, said that this was the ideal product for Pakistan as his company catered to the masses and not only for the elite class where credit cards like Visa, Master Card were most popular.
He mentioned that during his recent visit to Karachi he met the Deputy Governor, State Bank, Taufiq Hussain who had encouraged him to bring in such technologies to Pakistan. He also met the presidents of major banks and got a very positive response.