Tuesday March 28, 7:00 am Eastern Time
Company Press Release
SOURCE: IVI Checkmate Corp.; Debitek
Debitek, a Subsidiary of IVI Checkmate, Named as Preferred
Supplier to CANTV and Pepsi Electronic Cash Program
-- CANTV customers able to use Debitek Reader to purchase Pepsi Cola products with pre-paid telephone card in Caracas, Venezuela -- ATLANTA, GA/TORONTO, March 28 /CNW-PRN/ - Debitek, a subsidiary of IVI Checkmate Corp. (NASDAQ: CMIV - news); (TSE: IVC/IVI) today announced it has been selected as the preferred supplier of electronic cash vending readers by Dixie-Narco, of Williston, SC, for the CANTV/Pepsi Cola International Telcom program currently being rolled out in Caracas, Venezuela.
Dixie-Narco, a subsidiary of Maytag Corporation (NYSE: MYG - news), is integrating Debitek's electronic cash vending readers in Pepsi vending machines for use in Venezuela.
The system, designed by Dixie-Narco, Debitek, Pepsi Cola, CANTV, and Gemplus, allows CANTV telephone customers to use their pre-paid telephone cards to purchase Pepsi Cola
products from Pepsi Cola vending machines. The system, which originally piloted in February 1999 with 25 Pepsi Cola vending machines installed, has now expanded to over 500 vending machines throughout Caracas, Venezuela. The participants intend to further expand the program beyond the
Caracas metropolitan area.
Mr. Eduardo Carriquiry, Franchise Director of Pepsi Cola Venezuela, stated, ``The solution is very efficient and easy for CANTV customers to use. It has gained a loyal following in our markets, especially at our local universities.' Carriguiry adds, ``The program has allowed Pepsi to increase
sales, gain market share and build brand loyalty in the Caracas area.'
Larry Hauser, Vice President and General Manager of Debitek, stated, ``Debitek's experience in electronic cash solutions is an important part of the CANTV/Pepsi Cola International Telecom program. The agreement with Dixie-Narco reinforces our leadership position in providing electronic
cash solutions to the vending machine industry.'
About Maytag
Maytag Corporation is a leading producer of home and ommercial appliances. Its products are sold
to customers throughout North America and in international markets. The corporation's brands include Maytag, Hoover, Jenn-Air, Blodgett and Dixie-Narco. For more information on Maytag, visit its web site at maytagcorp.com.
About Debitek
Debitek has been a leader in the electronic cash industry for over 14 years. Debitek has been providing innovative electronic cash systems for academic institutions, correctional facilities, corporate campuses, hospitals, laundries and libraries. Debitek offers smart card and magnetic stripe systems designed and developed to improve convenience and save time for its customers as well as
their customers. For more information on Debitek, visit its web site at debitek.com.
About IVI Checkmate
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. For more information on IVI Checkmate, visit its web site at ivicheckmate.com.
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, 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 of component parts of its products; the Company's dependence on a limited number of third parties to manufacture 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; 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.
SOURCE: IVI Checkmate Corp.; Debitek
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