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QI Technologies Corp. |
Company Data | Introduction | Products | Market | Management | News | Chinese |
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| Address: | Suite 1070, 1200 West 73rd Avenue, Vancouver, B.C. |
| Tel No.: | (604) 264-9930 |
| Fax No.: | (604) 264-9926 |
| Toll Free No.: | 1-888-511-5487 |
| Web Site: | www.qitech.com |
| Contact Person: | Richard M. Smith |
| Position: | Manager Public Relations |
| Traded Market: | Canadian Venture Exchange |
| Traded Symbol: | QTC |
| Outstanding Shares: | 10,881,614 |
| Public Float: | 2 million |
| 52 Week High: | $ 10.50 |
| 52 Week Low: | $ 2.00 |
| Present Price: | $ 5.90 ( 08/06/2000 ) |
QI Technologies Corp. is a publicly traded company that designs, manufactures and markets products that allow the use of Cash Card payment systems in off-line self-serve applications like vending and photocopying machines. QI has developed the only cash card reader that accepts cash cards developed by VISA International and MONDEX (MasterCard), as well as other proprietary and loyalty card systems. Headquartered in Vancouver, Canada and trading on the Canadian Venture Exchange (QTC), QI Technologies is working with its partner Marconi Communications to market its SmartKit cash card reader and related products internationally. To date SmartKit cash card readers can in use in Canada, the United States and England, and are currently being introduced in Europe and Hong Kong.
QI Technologies developed SmartKit and QLink to provide convenience for consumers as well as flexibility, security and convenience for the vending industry.
SmartKit allows consumers to use cash cards to pay for goods in self-serve equipment in off-line
locations. SmartKit validates and authorizes a transaction electronically in just a few seconds. The cash balance stored on the card is displayed both before and after the
transaction. QI's SmartKit can be installed in all types of Unattended Point-Of-Sale equipment, including vending, photocopying and ticketing machines. And SmartKit integrates cash card payment with existing payment options.
QLink is a data collection system designed by QI Technologies for VISA International's VISACash electronic cash system. The QLink is a handheld
"Palmtop" computer that links vending machines that accept VISACash with a host computer or Visa Concentration Point. Electronic cash is uploaded to the
QLink, and clearing
information is downloaded to the vending machine. The specially designed QLink paddle retrieves information directly and easily from the card acceptance device in vending and other self-service machines.
The introduction of cash-card technology in Europe in the 1980's proved very popular, with Asia and North America close behind. Current estimates are that up to four billion pre-paid cash cards will be in use in the world by the turn of the century. (One billion are already in use.)
Cash cards store value on a microchip and eliminate the security problems and inconvenience associated with coins and bills. For consumers and industry, cash cards eliminates the cost and inconvenience of counting, storing, transporting, depositing and withdrawing cash.
The world vending machine market is growing by 35% annually. There are currently over 15 million vending machines in use worldwide. Seven million of these are in the US generating sales of over $11 billion annually. The applications for cash-card technology in unattended point-of-sale vending is virtually limitless, in laundromats, parking lots and meters, public transit systems, newspaper boxes, photocopiers and so on.
QI Technologies is the only company in the world to have produced a cash-card reader system that can handle multiple cash card systems. The SmartKit reader works with as many as four different cash cards, validating the card, displaying the balance, deducting the transaction amount from the card, then displaying the remaining balance.
QI's Management offers a strong mix of managerial and technical expertise in cash card technology, plus considerable experience in marketing and sales and in public company finance and management. The QI team is committed to positioning the Company as a fundamental part of the worldwide integration of Cash Card technology. In addition, management offers a track record of technical success and unparalleled experience in this growth industry.
James D. Roberts: President, CEO and Chairman of the Board
Mr. Robert's forty years entrepreneurial experience spans manufacturing, retailing and thirty years in public company finance and management.
Richard H. Murray, P.Eng.: Senior V.P.
Mr. Murray's professional career has included three years in government service, four years in consulting and fourteen years in business management. Since 1984, Mr. Murray has focused on developing and marketing products using electronics to allow card payment in self-serve equipment.
Douglas C. Brazier: Director and V.P. Finance
Mr. Brazier has extensive experience in both private and public corporations. His background includes seventeen years in accounting and management, holding the position of Controller of Financial Operations in a major communications company.
In January 18, 2000, QI Technologies Corp. announced that the successful installation of nearly 100 SmartKit readers in a Canadian car manufacturing facility located in the Province of Ontario. The SmartKits were installed in over 90 vending machines within two cafeterias. Due to a non-disclosure agreement QI is unable at this time to disclose the names of the Companies involved. A joint news release will be forth coming disclosing all details.
In December 01, 1999, QI Technologies Corp. announced that QI has been invited to participate in the launch of Mondex electronic cash in Venezuela. Richard Murray, Senior V.P., is presently in Venezuela as the scene is set for the first-phase implementation of Mondex electronic cash to commence early 2000.
Venezuela became a fully-fledged member of the global Mondex community in February 1999, when five leading financing institutions in the country-Banco Mercantil CASA (Banco Universal), Banco Union CA, Consorcio Credicard CA, Banesco Banco Universal SACA, and InterBank CA-launched Mondex Venezuela. The partners in Mondex Venezuela account for almost 50 per cent of the retail banking market in Venezuela--putting them in an ideal position to enable the deployment of multi-application smart cards throughout the country.
In November 30, 1999, QI Technologies Corp. announced that the installation of SmartKits in 290 Maytag commercial laundry washers and dryers for the Department of National Defense Canadian Forces Base St. Jean, Quebec.
This is the first commercial installation of QI's SmartKit products using privately issued smart cards rather than those issued by Mondex/MasterCard and Visa Cash. The cards in use are Gemplus reloadable memory cards.
Gemplus is the world's leader in Smart Card solutions.