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CHECKMATE ELECTRONICS INTRODUCES PAYMENT SOLUTION FOR AUTOMATING DEBIT, CREDIT, CHECK AND SIGNATURE CAPTURE IN GROCERY AND RETAIL STORES

 ROSWELL, Ga., Jan. 17 /PRNewswire/ -- Checkmate Electronics, Inc. (NASDAQ-NMS: CMEL) today introduced, at the National Retail Federation Show (NRF) in New York City, the Series 2000 family of payment systems which provides logical and physical integration of payment automation platforms at the point of service. The first two new products unveiled were the CM 2001 Payment System and the CM 2020 Signature Capture Peripheral, and are targeted primarily for use at grocery stores and retailers, where Checkmate currently has a substantial installed base of check and magnetic stripe reading peripherals. Checkmate's installed base of check readers now numbers close to 150,000 worldwide.
 The CM 2001 is a "direct connect" peripheral to an ECR/POS system and automates debit and credit card payments. This product is customer activated and its design, largely influenced by input from consumers, allows the display of easy to read messages and the use of programmable keys to step a customer through a transaction. The CM 2001 also has a built-in PINpad to allow secure entry of PINs. In addition, it facilitates easy implementation of electronic benefit transfer (EBT) and frequent shopper programs.
 The CM 2020, a peripheral that can attach to the CM 2001, or directly to an ECR/POS system, streamlines the document retrieval process for credit card drafts by electronically capturing signatures at the point of service with a sophisticated proprietary data compression algorithm. This technology is also very effective for signature verification applications. Based on electromagnetic technology with no moving parts, the CM 2020 ensures trouble free operation.
 The CM 2001 and CM 2020, with basic options, list for $380 and $265, respectively. The Company is now offering products for small pilots and anticipates volume production early in the second quarter of its calendar year.
 "These initial products of our Series 2000 family offer price performance levels that will continue to enhance Checkmate's leadership in payment automation products connected to ECR/POS systems," said Raymond J. Homa, president and chief executive officer of Checkmate. "Studies indicate that the largest growth in debit has been in environments where customers have constant exposure to debit capable payment systems, ultimately resulting in debit card usage. In the past, debit installation growth in stores with multiple lanes has been modest, largely as a result of a high break-even point per lane. By leveraging our expertise in connecting to leading ECR/POS systems and by capitalizing on inherent capabilities of ECR/POS systems, such as receipt printing, we are able to provide solutions at price performance levels which dramatically reduce this break-even point."
 Checkmate Electronics designs, manufactures, and markets point-of-service payment systems including signature capture products, MICR (magnetic ink character recognition) readers, analyzers, and related products. The company's MICR readers utilize patented technology to read magnetic ink characters that are printed on checks, travelers checks, and other documents. The MICR readers also measure the signal strength of magnetic characters to ensure that the characters conform to MICR quality standards, thereby helping eliminate fraud by detecting most counterfeit and visually altered documents. Checkmate markets its products to a broad base of customers including department stores, mass merchandisers, supermarkets, convenience stores, independent retailers, banks, and other financial institutions.
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 /CONTACT: Raymond J. Homa, President and Chief Executive Officer of Checkmate, 404-594-6000; or Janice J. Kuntz of A. Brown-Olmstead Associates, 404-659-0919/
 (CMEL)


CO: Checkmate Electronics, Inc. ST: Georgia, New York IN: CPR REA SU: PDT

GK -- NY009 -- 2368 01/17/94 08:02 EST
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Publication:PR Newswire
Date:Jan 17, 1994
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