Paymentech Certifies IVI Checkmate eN-Counter 4000 JIGSAW POS Terminal Platform.
ATLANTA--(BUSINESS WIRE)--June 2, 1999--
Leading Third-Party Processor To Release eN-Counter 4000 Retail and Restaurant Solution to its Independent Sales Organizations (ISOs) and Agent Bank Clients
IVI IVI Intelligent Vehicle Initiative
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See : End Corp. (Nasdaq: CMIV); (TSE See Tokyo Stock Exchange.
1. See Tokyo Stock Exchange (TSE).
2. See Toronto Stock Exchange (TSE). : IVC/IVI) announced today that Paymentech, the nation's third largest bankcard acquirer, certified the IVI Checkmate eN-Counter(TM) 4000 POS (1) See point of sale and packet over SONET.
(2) "Parent over shoulder." See digispeak.
POS - point of sale terminal, formerly known as the DataCard Jigsaw(R), for release to its Independent Sales Organizations (ISOs) and agent bank clients. Paymentech's ISOs and agent banks will be able to purchase the eN-Counter 4000 POS terminal directly from IVI Checkmate for resale to retailers and restaurateurs. The eN-Counter 4000 is certified for use with Paymentech Network Services' authorization and electronic draft capture processing platform, which is owned by Dallas-based Paymentech, Inc. (NYSE NYSE
See: New York Stock Exchange :PTI PTI - Portable Tool Interface )
IVI Checkmate's eN-Counter 4000 POS terminal can be configured as an "all-in-one" Electronic Funds Transfer See EFT.
(application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. POS solution or installed modularly. Both configurations offer smart card and magnetic stripe A small length of magnetic tape adhered to credit cards, badges, permits, passes and tokens. The tape is read by magnetic stripe readers incorporated into ATMs, identification readers and payment terminals. capabilities and include a feature-rich software package that supports both retailers and restaurants.
IVI Checkmate recently acquired DataCard's Financial Systems subsidiary, which developed and marketed the Jigsaw (now known as the eN-Counter 4000) POS solution. The former DataCard subsidiary has been renamed the IVI Checkmate Financial Systems division.
"The eN-Counter 4000 POS terminal provides an outstanding EFT POS solution for Paymentech's ISOs and agent banks clients," stated John Mamalakis, Vice President and General Manager of IVI Checkmate's Financial Systems division. Mamalakis adds, "The eN-Counter 4000 terminal offers an intuitive and feature rich retail/restaurant application suite which includes combined credit and debit support, a wide range of tip options, the ability to add and personalize operator prompts, mail order/telephone order with address verification (AVS (Audio Video Coding Standard) A video compression technique developed by Chinese companies and supported by the Chinese government. Expected to provide better compression than MPEG-2, AVS was created to avoid paying royalties to the MPEG licensors, which are outside ), and multiple levels of password protection. The application also provides an outstanding training mode, which dramatically reduces training time."
"We are seeing an increasing demand for the eN-Counter 4000 among our ISOs and agent bank customers," said George Wilcox, Group Manager for Retail Product Management at Paymentech. "We are pleased to add the eN-Counter 4000 POS terminal to our comprehensive offering of retail and restaurant applications that enable our third-party clients to remain competitive."
Paymentech, Inc. (NYSE:PTI), founded in 1985, provides full-service electronic payment solutions in merchant acquiring and commercial card programs. Through the company's Network Services unit, Paymentech offers third party POS transaction processing services for independent sales organizations and financial institutions. Paymentech processed 2.2 billion total transactions and approximately $54 billion in sales volume in 1998. Paymentech is the third largest processor of bancard transactions in the United States and a leading commercial card user. (www.paymentech.com)
IVI Checkmate is the third largest electronic transaction solutions provider in North America. The Company designs, develops and markets innovative payment and value-added solutions that optimize transaction management at the point-of-service in the retail, financial, travel & entertainment, healthcare and transportation industries. IVI Checkmate's software, hardware and professional services minimize transaction costs Transaction Costs
Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , reduce operational complexity and improve profitability for its customers in the U.S., Canada and Latin America. For more information on IVI Checkmate, visit its web site at (http://www.ivicheckmate.com)
This press release contains forward-looking statements subject to the safe harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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, 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 limited suppliers and manufacturers of component parts of its 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 sales mix
See product mix. ; competition from existing companies as well as new market entrants; the Company's dependence on key personnel; and other factors that are contained in documents that the Company files with the U.S. Securities and Exchange Commission.