elcome Real-time's acquisition of Axiomatique International makes it the first global provider of loyalty software for smart cards and puts it first in line to occupy a major role in the fast-growing smart card software market.

The smart card market is growing at close to 50 percent a year, according to a new edition of the most comprehensive industry research report, "The Smart Card," published by SJB Research. This means that three to four billion smart cards were issued in 2000 compared to 800 million in 1996.

Welcome Real-time offers advanced marketing features and multiprogram capabilities at the point-of-sale, and Axiomatique provides a comprehensive back-end program administration and management, including seamless integration of mag stripe and smart card functionality at the back end.

Integration of the combined technology from both Welcome Real-time and Axiomatique's respective systems was initiated more than six months ago. Credit card giant American Express already has purchased their joint solution for the Asian launch of its smart card application, American Express Blue. Welcome Real-time and Axiomatique's solutions are each based on several hundred "man years" of software development specifically designed to serve millions of users.

Both companies bring together significant real-world market experience through numerous implementations in Europe and Asia over the last five years. The new company offers complete technical assistance, customization and marketing services relating to its products. The company also offers systems integration and development services to create flexible, user- centered solutions specific to a customer's requirements.

The new company has signed agreements with card issuers in the United States, Europe and Asia representing a potential of more than 150 million cards, far more than any other provider. This acquisition will enable Welcome Real-time to offer the most complete smart card-based end-to-end solutions for banks worldwide. It will expand Welcome Real-time's geographical market presence in Europe, Asia and the United States as well as its domain expertise in server and back-office systems.

Welcome Real-time's smart transaction platform enhances payment transactions with services such as instantly awarded loyalty points, coupons, punch cards, vouchers, tickets, cash back, etc., all in a single convenient payment process. The company is headquartered in Aix-en- Provence, France, and has offices in Philadelphia.

Axiomatique's loyalty management system powers virtually all of the multifunction smart card programs deployed in Asia. Axiomatique's system is used in conjunction with smart cards issued by banks, such as Standard Chartered, Chase Manhattan, Sumitomo Credit Services, in addition to cards issued by a variety of retail consortiums and loyalty operators.

For more information, visit www.welcome-rt.com. or www.axiomatique.com.