Schlumberger Announces cheqFlex* a Smart Card Retail Payment Solution

ORLANDO, Fla. (CardTech/SecurTech), May 14, 2003 - Schlumberger Smart Cards and Terminals, a business segment of Schlumberger Limited, announced today the delivery of cheqFlex, the smart card chip-based payment solution that is managed through standard protocols between your POS (point-of-sale) and your back-office system.
"cheqFlex is the solution for the merchant who desires to offer pre-authorized debit payment and enhance customer relationships today," stated Paul Beverly, president of Schlumberger North and South America. "Smart cards allow retailers to manage and reduce transaction costs, expedite checkout times and facilitate customer loyalty."

Smart cards enable you to offer your customers a single card for loyalty, secure pre-authorized ACH payments and a private label line of credit. cheqFlex is designed to support all of these features as well as new applications as they become available both online and at the point of sale.

Merchants can issue a cheqFlex card by simply having the customer fill out a form authorizing the merchant to debit the customers checking account by creating a low-cost ACH payment. Upon entering a PIN (personal identity number), the smart chip passes securely the stored information to the POS terminal, verifies the card, and then creates a payment transaction. The payment terminal is able to write data on the smart chip, and this information can include digital receipts, coupons, reward points and partner merchant offers.

Smart cards can support multiple applications, can be issued with magnetic stripes and bar codes for compatibility with existing terminals, can be customized to the issuer's specific applications and are currently available for use as smart card-enabled terminals are taking hold in today's retail infrastructure.

About Schlumberger Smart Cards and Terminals:
Schlumberger Smart Cards and Terminals is the world's leading provider of microprocessor cards - the key to digital networks - and a major supplier of card-related terminals and transaction software. Its 5000 employees serve customers in more than 100 countries, with worldwide sales exceeding 2.6 billion smart cards to date. The company possesses more than 20 years' experience in smart card innovation and leads its industry in security technology and open systems.

Schlumberger Smart Cards and Terminals continuously creates new generations of products for use in a variety of applications in the telecommunications, finance, retail, entertainment, healthcare, personal identification, information technology and public sector markets. Smart card solutions provide convenience, security and privacy to public and private services operators, their customers and end users.
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