STRATEGIC PARTNERS
December 4, 2001
TORONTO -- MIST Inc., a provider of wireless transaction technology, says it has expanded its offices to Tachikawa-city, Japan and signed an agreement to provide Oki Electric Industry Co., a manufacturer of telecommunication systems, information systems and electronic devices, with customized security technology for ATM financial transactions.
The three-part MIST/Oki agreement includes the licensing of customized security technology, including research and development for software and hardware as well as unit manufacturing. The technology will enhance security for customers making ATM transactions.
"MIST's expertise in the wireless industry will most certainly assist the growing needs of the Asian market," said Charles E. Lee, chief executive officer and president of MIST Inc. "The greatest advantage that MIST provides is a secure gateway and a variety of customized software applications and products. In our agreement with Oki, we will provide additional security technology and support for ATM financial transactions."
The security technology is compatible with MIST's FreedomGate, the multiple-transaction processing facilitator through which wireless transactions are completed.
According to a news release, FreedomGate provides users with remote loading of software and enables updates to each terminal at one time and from one location. FreedomGate also provides a re-programmable security device and key injection solution providing PIN changes at varying frequency to minimize security risks.
"This agreement will enable us to develop highly secure and user-friendly ATMs to meet market needs," said Haruo Kimura, general manager of Oki Electric's terminal systems division.
