ASX-listed electronic transactions provider Keycorp has secured a $5 million deal to supply its smartcard operating system for the rollout of 1.2 million smartcards in Hong Kong.
As part of the subcontracting agreement, Pacific Century CyberWorks (PCCW) subsidiary Business eSolutions will utilise Keycorp's Multos operating system to issue smartcards to 6.8 million Hong Kong residents as part of the government's Smart Identity Card System (Smartics) initiative.
Keycorp's operating system will be used to keep personal data stored by the Hong Kong Government's Department of Immigration private and secure while Smartics replaces the laminated plastic photo ID card system in use since 1987, which is easily forged.
Previously used by the finance sector, this is the first time Keycorp's operating system has been used in a personal identification and security application.
The PCCW-led consortium was awarded the project in February by the Hong Kong Government after a competitive bidding process.
Keycorp CEO Bruce Thompson said that the contract provides a firm foothold for Keycorp into emerging markets as governments around the world grapple with the growing problems of identity fraud.