Update to 9th June announcement re $32.5m...

Update to 9th June announcement re $32.5m Project

http://stocknessmonster.com/news-item?S=BQT&E=ASX&N=380547

Extract:
"John Genner, Managing Director of BQT Solutions Limited announced “Our client Monoco Limited has officially released to the market their breakthrough Brand Card Payment technology which will have a major impact on the Credit Payment Cards worldwide.

Identity theft in the USA alone exceeds US$ 52 Billion per annum. On a world wide basis identity theft is massive and needs a major technology breakthrough to stop it. Our client, Monoco Limited, will help solve this problem within the Card Payment industry.

BQT’s R&D team has spent over 2 years in working with Monoco Limited on a special component for integration
into their technology. The relationship with Monoco Limited is ongoing as the BQT technical team will work on future technology rollout.

Monoco is Introducing BRAND CARDS TECHNOLOGY
Introducing the worlds first automated transaction system for retailers to issue and accept Brand Cards at terminals in retail outlets.

Each transaction is processed and audited in real-time for retailers to receive daily record of every valid transaction. Retailers will save millions of Dollars in card charges using Brand Cards.

Brand Cards eliminate identity theft and account fraud. No personal identifiers are displayed or carried on Brand
Cards; therefore no reference to an individual person exists on a Brand Card for identification use or transaction use.

Brand Cards are impersonal cards.
Impersonal cards protect the inviolable rights of the individual person – security and privacy. The network operator installs the network systems and manages the network services for the processing of millions of transactions per hour at the prime security level.

Prime Security
When a Brand Card is inserted in the terminal a set of numeric constants are generated, and each numeric
constant is a discrete identifier for the card – face – user which combine to form a binary matrix, a precision
identifier which validates a card and user in real-time at the server for the cost of a phone call.

A facial image is retrieved from the card and displayed on the POS terminal. The fingerprint template is stored in
the card and verified by a physical match or a scramble pin pad number, unique to the card holder. Note there is no name physically on the card which enhances security especially if the card is lost or stolen.
BQT Solutions Limited
ABN 89 000 029 265
Level 4, 65 Epping Road
North Ryde NSW 2113 Australia
Phone: +61 2 8817 2800
Fax: +61 2 8817 2811