Company Press Release
SOURCE: IVI Checkmate Corp.
IVI Checkmate Announces Availability
of eN-Concert Insight
-- Application helps retailers convert check cards
and other offline debit cards transactions into
online debit transactions which significantly reduce per transaction costs and
related expenses --
CHICAGO, IL, April 17 /CNW-PRN/ - IVI Checkmate Corp. (NASDAQ: CMIV - news);
(TSE: IVC/IVI) today announced at the Retail Systems 2000 Conference and Exhibition the
availability of eN-Concert Insight(TM), an application that helps retailers distinguish between credit
cards and offline debit cards as tendered by their customers. Offline debit cards can be processed
at a substantial savings to the retailer when the customer enters their Personal Identification Number
(PIN), converting the transaction into an online debit transaction. In addition to significantly
lowering a retailer's per transaction cost, online debit transactions are guaranteed, a retailer
received their funds faster, and retailer does not incur chargebacks.
eN-Concert Insight is an application solution that resides in the point- of-sale payment terminal and
on the retailer's In-Store Professor (ISP). eN- Concert Insight can be installed as an option with
the eN-Concert Store(TM) In- Store Payment Solution, or as an application module on the
retailer's In-Store Processor. eN-Concert Insight is part of IVI Checkmate's eN-to-eN
Transaction Solutions(TM), a comprehensive suite of hardware, software, Internet-based services
and professional services that enable retailers to reduce their cost of business and drive incremental
sales through targeted promotions and value- added services that are delivered to the point of
purchase.
Don Sieb, Executive Vice President of IVI Checkmate's eN-Concert Solutions organization,
stated, ``As a result of the increased issuance of check cards by VISA and MasterCard member
banks, retailers are accepting an increasing number of offline debit cards at the point of service.
Over the past five years, the number of offline debit cards issued has risen from 17 million in 1993
to 100 million in 1998. This means that more than one half of people with checking accounts have
an offline debit card, and that more than one third of the U.S. population have an offline debit card.
In addition to the VISA or MasterCard logo that issuing banks place on these offline debit cards,
they also place an EFT network logo (such as NYCE and Honor) on these cards which enables
them to be used as online debit cards when a PIN is entered by the consumer.'
IVI Checkmate's eN-Concert Insight is the key to prompting customers to enter their PIN when
tendering an offline debit card. When a consumer tenders an offline debit card, eN-Concert Insight
recognizes that the card's account number falls into a range of account numbers reserved for offline
debit cards. eN-Concert Insight sends a message to the Pinpad to prompt the customer to enter
their PIN. When the PIN is entered, the offline debit transaction is converted to a less expensive
online debit transaction. Online debit costs less than a credit card or an offline debit card
transaction to process. Online debit transactions are also guaranteed so there is no possibility of a
chargeback.
IVI Checkmate has prepared an ``Online Debit' white paper to further explain the benefits of
converting off-line debit transactions to online debit transactions. This white paper can be viewed
on the Company's web site at www.ivicheckmate.com.
About IVI Checkmate's eN-Concert Solutions
IVI Checkmate's eN-Concert Solutions organization has prepared a comprehensive and versatile
set of application solutions, Internet-based management services and professional services that
enable retailers to better manage the payment process and reduce operating costs. It is part of IVI
Checkmate's eN-to-eN Transaction Solutions(TM) strategy, which enables a retailer to combine
consumer payments with targeted personalized consumer marketing programs delivered to the
point of service using innovative, intuitive, and graphical user interfaces. eN to eN Transaction
Solutions provides a foundation for message management and value-added services that transcends
the store reaching throughout the retailer's entire enterprise, allowing them to seamlessly integrate
new payment types and innovative targeted consumer marketing programs with existing legacy
systems and networks.
About IVI Checkmate
IVI Checkmate is the largest provider of electronic transaction solutions to multi-lane retailers 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 www.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 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; 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. |
