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INTERNATIONAL VERIFACT INC. ANNOUNCES SCOTIABANK FIRST TO ENDORSE IVI'S NEW WIRELESS POINT-OF-SALE CONTROLLER.

TORONTO, Ontario--(BUSINESS WIRE)--Nov. 25, 1996--IVI (International Verifact Inc.) (Toronto Stock Exchange:IVI, NASDAQ:IVIAF) announced today that Scotiabank has placed the first substantial order for IVI's new wireless Point-of-Sale (POS) controller named Air Quatro, with the majority of this order expected to be shipped in the fourth quarter this year. Air Quatro is the first long range wireless product to be introduced in Canada which sends financial transactions from a merchant with multiple (up to 16) POS terminals directly to a bank. Further, Air Quatro's unique architecture provides Scotiabank merchants with the fastest host connection time in the industry, resulting in speedy checkouts at the register.

"Scotiabank's merchant customers will have access to the most cost-effective wireless solution in the marketplace as a result of Air Quatro's state of the art technology," said Ed Lomax, Scotiabank's Assistant General Manager of Merchant Products. "We expect our smaller clients will find especially beneficial the easy conversion from existing leased lines, quicker installation, and the fact that neither telephone lines nor leased lines are necessary." This product has been certified by both Scotiabank and Bell Mobility to run over the Bell Mobility Ardis wireless data communications network. Bell Mobility's Ardis network is Canada's dominant player in packet data networking, providing service to in excess of 80 percent of Canada's merchant base.

"This is the first of a series of wireless offerings from IVI. We have been working with several 'Strategic Partners' to develop reliable, cost effective products that will perform with the accuracy and security that INTERAC demands, and that IVI is renowned for," said L. Barry Thomson, President and CEO, IVI.

Scotiabank is one of North America's premier financial institutions with more than C$158 billion in assets and over 34,000 employees worldwide.

It is also Canada's most international bank, with 1,460 branches and offices in 47 countries on five continents. Scotiabank is located on the World Wide Web at www.scotiabank.ca

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 under the symbol 'IVI' and on the NASDAQ as 'IVIAF'.

CONTACT: International Verifact Inc.

L. Barry Thomson, 416/245-6700

Scotiabank

Ed Lomax, 416/866-7800
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Publication:Business Wire
Date:Nov 25, 1996
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