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Atom Technologies Wins Red Hat Award
By
ChannelTimes Staff
Mumbai, Apr 16, 2008
Atom Technologies has won "The World is Open Award 2008" for excellence in the vertical of financial services for its product called atom cards.
"The World is Open Award" was instituted by Red Hat, in collaboration with Skoch Consultancy, to recognize the efforts being made by various industry segments such as banking, insurance, financial services, technology, etc towards making delivery systems work in a better manner through a combination of process changes, business models, and efficient use of Information and Communications Technologies.
According to Nandu Pradhan, president and managing director of Red Hat, India, the open source collaborative model for innovation and its deployment by businesses has gained tremendous acceptance in India. "We feel proud to see so many successful deployments on open source models being nominated for The World is Open Award," he said.
Red Hat is a provider of open source software and a major Linux distribution vendor.
atom cards is a mobile payment solution that converts plastic credit/debit cards into virtual cards that reside inside Java mobile phones. Remote, over the counter, ATM transactions as well as website transactions are done by enforcing PIN based transactions thereby maintaining the highest level of security for the customer.
Transactions via atom cards would include money transfers, ticket booking, day-to-day shopping, home delivery shopping, and even cash withdrawals at ATMs, thereby, making it possible for consumers to carry out transactions in a fast (less than 3 seconds) highly secure, and convenient way.
The software offers various benefits to consumers like instant receipts, 'easy to use' features, easy accessibility, and transaction records that can be stored in the phone memory. Online balance enquiry, mini statements are also available on demand. Customers can load multiple credit/debit cards from multiple banks on their mobile. In short the customer does not need to carry the physical cards and can do all electronic transactions via these virtual cards.
Atom Technologies is a digital retail initiative of Financial Technologies enabling 'any transaction on mobile'.
Related Link
Red Hat Launches Global Services Center in India
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