IVI resumes sales to Royal Bank and receives additional orders from Consolidated Stores in the USA.TORONTO, Ontario & BOULDER, Colo.--(BUSINESS WIRE)--Sept. 12, 1996--IVI (International Verifact Inc.) announced today that it has resumed shipments to the Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. as well receiving additional orders from Consolidated Stores of Columbus, Ohio. "Royal Bank is a major deployer of Point-of-Sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) debit/credit terminals and is a valued customer of IVI IVI Intelligent Vehicle Initiative IVI International Vaccine Institute IVI Interchangeable Virtual Instrument IVI Intravenous Infusion IVI Interactive Video Instruction IVI Intra Venous Injection IVI Institute for Vision Improvement IVI Interactive Video Initiative . Earlier in the year Royal Bank delayed orders of POS terminals that resulted in lower than anticipated sales for IVI. The resumption of the Royal Bank orders is good news as it signals that debit deployment in the marketplace is still strong. In fact, INTERAC believe that over 200,000 merchants will have POS terminals installed by year end. That's an increase of approximately 63,000 merchants this year alone," said L. Barry Thomson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , IVI. Consolidated Stores has placed another significant order of IVI CheckReaders for shipment in September. Consolidated is the nation's largest close-out retailer with 1,906 stores in 50 stores in 50 states and Puerto Rico. Consolidated operates the retail close-out stores primarily under the names Odd Lots and Big Lots, ITZADEAL and All for One. Their retail toy stores operate primarily under the names Kay-Bee Toys, Toy Works, The Amazing Toy Store and Toy Liquidators. Consolidated seeks to provide the budget-conscious consumer with a broad range of quality name brand merchandise at exceptional values. IVI is engaged in the design, development and sale of electronic payment solutions for retailers, financial institutions, governments and other businesses. IVI's hardware and software products include point-of-sale debit/credit/EFT/EBT terminals, check readers, smart card readers, check encoders, and secure PIN entry devices. IVI trades on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol "IVI" and on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on as "IVIAF". CONTACT: L. Barry Thomson, President and CEO, IVI (416) 245-6700 |
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