Parekh told The Financial Express that the product was the latest venture of the company's automated data capture division. The smart card could be used in a variety of applications including retail stores and industrial units, where each vendor could be documented individually. The chip card can be programmed to contain specific information to suit particular needs. Once loaded, the application could be used to keep track of various functions it has been deployed for, he said.

The company was currently looking for loyalty applications and large industrial units to set up smart card applications to cut short the heavy documentation processes. The product is being test run at a discotheque in Mumbai, and operates on a system where regular visitors could add points on totheir cards and redeem it for gifts later. This kind of set-up would work for large retail stores to keep track of their regular customers, Parekh added.

He said besides large retail chains, the company was also targeting government institutions and added that they were currently in talks with the government of Karnataka.

In India, Intellicon has targeted to market around 20 lakh cards at a price of Rs 100. The smart card reader per se would cost between Rs 3000 to Rs 50,000 depending on features and use. The features include printing and input facilities, verifications and magnetic strip options, etc, he said.Parekh said the company was aiming to register a turnover of Rs 100 crore during the fiscal against Rs 30 crore in the previous fiscal. The company currently imports blank cards and cutomises them for various applications.Gem Plus has a marketshare of over 40 per cent aross the globe and sells over 350 million smart cards a year. During the current year sales could touch 480 millioncards.

Intellicon is also into other automated data capture devices including barcode solutions and scanners, time and attendance management systems, radio frequency scanners. It also has a telecom division which manufactures EPABX systems.