National Bank of Canada Names IVI Checkmate As Its Supplier of Point of Sale Systems.

ATLANTA/TORONTO--(BUSINESS WIRE)--Oct. 20, 1998--

Long Term Business Relationship To Be Extended Another 4 Years

IVI Checkmate Corp. (Nasdaq:CMIV; TSE:IVC/IVI) announces today that it has signed a new four year software development and point of sale ("POS") systems agreement with the National Bank of Canada ("BNC").

Under terms of the agreement, BNC will purchase from IVI Checkmate all of the POS systems that it will require over the next four years. In 1997, purchases of such systems by BNC were approximately CDN$4 million.

The agreement also stipulates that IVI Checkmate will modify, enhance and maintain the POS software applications currently employed by BNC. IVI Checkmate will provide these services through the use of its ComPOSit development tool, which allows software applications to be written through visual development techniques, thereby producing better quality applications faster. A further advantage is that applications developed for IVI Checkmate terminals using ComPOSit can be easily ported to other terminals with minimal modifications, saving both time and cost. This will allow BNC to expand its services and product offerings to its customers in all sectors of the marketplace.

Johanne Duhaime, Manager of BNC Card Services, said: "The National Bank has a dominant presence in well-defined markets with specific commercial orientation towards independent businesses. We believe that our relationship with IVI Checkmate will enable us to continue to provide to our customers the range of services and products that has made us become known as the bank for North American mid-market companies."

"We are pleased to continue our long-standing relationship with the National Bank of Canada for another four years," said Geoff Bowen, VP Canadian Sales, IVI Checkmate. "This agreement further demonstrates our commitment to the development of ComPOSit at significant value to our customers. By providing industry leading software, products and services, we continuously strengthen our customer relationships."

IVI Checkmate is the first company to perfect 'customer interaction at the point of sale.' IVI Checkmate's customer-activated payment terminals and software solutions provide an outstanding check-out experience for customers, at an excellent investment cost for merchants.

With assets in excess of $69 billion, some 16,600 employees and slightly more than 640 branches across Canada, the National Bank is the sixth largest bank in the country. It has 40% of the independent business market and ranks first among all financial institutions for its services to this type of client in Quebec.

International Verifact Inc. of Toronto and Checkmate Electronics, Inc. of Atlanta united to form IVI Checkmate Corp. to become the third largest electronic payment solutions provider in North America. IVI Checkmate is a full-service solutions provider in the U.S., Canada, and Latin America. IVI Checkmate serves the retail, financial, hospitality, banking, healthcare and transportation industries, with offices in the U.S. and Canada and established strategic alliances and partnerships worldwide.

This press release contains forward-looking statements subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Management cautions that these statements represent projections and estimates of future performance and involve certain risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors including, without limitation, the Company's dependence on its limited suppliers and manufacturers of component parts of its products; rapid and significant technological developments that could delay the introduction of improvements in existing products or of new products; the Company's dependence on its proprietary technologies (which may be independently developed by competitors); the Company's dependence on a small number of large retail customers; the potential fluctuation in financial results as a result of the Company's inability to make sales to large customers as well as the volume and timing of bookings received during a quarter and variations in sales mix; competition from existing companies as well as new market entrants; and, the Company's dependence on key personnel.