E-commerce play. Also involved with electronic-checking.
echeck.org.
Price is in Cnd dollars....
techstocks.com
Wednesday March 31, 8:30 am Eastern Time
Company Press Release
SOURCE: RDM Corporation
RDM Corporation Announces Licensing Agreement with HP's VeriFone
WATERLOO, ON, March 31 /CNW-PRN/ - RDM Corporation, a technology leader in the development of specialized software and hardware products for both of the electronic and paper based payment processing industries, announced today that it has entered into an agreement with VeriFone, a division of Hewlett-Packard Company (NYSE: HWP - news), to supply RDM's MICR cheque reading technology in VeriFone point of sale (POS) payment terminals. Under the agreement, VeriFone will license RDM's MICR reading technology for delivering POS cheque reading products world-wide.
Under the five-year agreement, VeriFone will pay RDM undisclosed royalties to license selected RDM technology. RDM will also provide development and integration services for VeriFone to incorporate the cheque reading algorithms into their POS products. This agreement builds on RDM's strategy to achieve maximum penetration into payment technology markets through direct and indirect channels.
''VeriFone is the market share leader in point of sale terminals world-wide. This agreement further validates RDM's point of sale technologies,'' said David Lant, vice president of sales and marketing at RDM. He added, ''RDM has established a strong reputation in the financial industry for supplying high quality MICR testing equipment. This agreement follows our strategy of moving into other markets through multiple channels.''
''RDM's reputation for MICR quality measurement within the banking and cheque printing industries makes its technology the logical choice for VeriFone,'' said Pierre Francois Catte, general manager of VeriFone's Appliance Systems Division. ''VeriFone sees strong growth potential in the point of sale cheque acceptance market, and RDM's MICR technology is expected to provide the superior level of performance required for these applications.''
About RDM: RDM currently provides hardware and software for cheque processing and automation. RDM's MICR and image test products are recognized as the industry standard equipment for ensuring that cheques meet ANSI and bank standards. RDM's recently released EC5000 incorporates RDM's industry leading MICR and image technologies in a low cost device that captures MICR and image data for point of sale and bank cheque automation applications. RDM is working on cheque automation and other e-commerce projects, including the Internet based echeck initiative with the Financial Services Technology Consortium driving the evolution of the cheque to a completely electronic transaction.
RDM has been providing cheque automation and processing technologies to banks, printers and payment processors in over 35 countries since 1987. RDM is the leading supplier of hardware and software to design and test cheques for electronic processing. RDM Corporation is a public company listed under the symbol ''RC'' on the Vancouver Stock Exchange.
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE: RDM Corporation
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