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April 9, 1996


By CBR Staff Writer

Sydney-based regional bank Advance Bank Ltd has signed a license agreement for the CiT Smart Card system with its developer, Card Technologies Australia following a successful trial of CiT Transcard in western Sydney with BankSA, a member of the Advance Bank group. The bank will integrate CiT contactless card readers into electronic funds transfer point of sale terminals enabling the new Advance CiT Smart Card to replace customers’ coins, notes and other debit and credit cards. Advance and BankSA will issue the CiT Smart Card and says the first cards could be out by the second half of this year.

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