(Full text of press release from Canada NewsWire)
NCR and IVI Checkmate Reach Multi-Year Agreement Estimated
to be Over $15 Million
Partnership Agreement will position IVI Checkmate as
Preferred Payment Terminal Provider
ATLANTA, Georgia/TORONTO, Canada, Nov. 23 /CNW/ - IVI
Checkmate Corp. (NASDAQ: CMIV); (TSE: IVC/IVI) today announced
a three-year agreement with NCR Corporation (NYSE: NCR)
estimated to be over $15 million. The agreement specifies that
IVI Checkmate will manufacture and supply, using IVI
Checkmate's GEN4 fourth generation architecture, the key
technologies of the NCR 5945 retail debit/credit terminal and
the NCR 5992 Signature Capture Plus'' electronic payment
terminal. The terminal products and supporting software will be
sold as part of NCR retail solution offerings through NCR's
direct and indirect sales channels, replacing existing
electronic payment products in NCR's retail product family.
Both companies stated that the agreement is an initial step in
formulating a long-term partnership that will provide
additional revenue opportunities in retail and other markets
that are common to the two companies.
Our objectives for the new NCR electronic payment terminals
included meeting retailers' requirements for a flexible,
upgradeable, and easy-to-use platform that enhances the overall
value of their store solution,'' said Fred Hutcheon, Assistant
Vice President, POS Systems, in NCR's Retail Solutions Group.
By leveraging the GEN4 product architecture and technology of
IVI Checkmate in the design of the NCR 5945 and NCR 5992, we
meet our objectives and achieve a significant technology
refresh.''
Gregory A. Lewis, President and CEO of IVI Checkmate's U.S.
Operations states, We are extremely pleased to form a
partnership agreement of this magnitude with NCR. The GEN4
architecture and our focus on payment solutions were the major
reasons we were selected by NCR, a leader in integrated retail
store solutions, as their preferred payment terminal provider.
The NCR 5992's touch screen technology will enable NCR to
provide a flexible and open graphical user interface that
replace standard keypads and displays to provide retailers with
an intuitive customer interface. The NCR 5992 fits well with
NCR's strategy of better customer service through increased
knowledge of and interaction with the consumer.'' Lewis adds,
This agreement is key to our continued growth in the U.S. It
provides the opportunity to market additional payment terminal
platforms containing IVI Checkmate GEN4 technology through
NCR's direct sales channel as well as their Value Added
Reseller (VAR) network. We view this agreement as a first step
to creating a partnership that will lead to joint development
of cost effective leading-edge payment solutions for retail and
other markets we share in common.''
The NCR 5992 is an interactive touch screen and signature
capture terminal for payment and value-added applications.
Value-added applications such as loyalty, promotional
advertising, and instant credit help retailers increase sales
by improving their level of customer service through increased
customer intimacy. The NCR 5945 is a proven debit/credit
terminal for multi-lane retailers that supports multiple
payment types while offering superior expandability through
open ports and available memory. The NCR 5945 and NCR 5992
integrate IVI Checkmate's GEN4 fourth generation architecture
which is a blend of best functionality, ergonomic design
characteristics and software delivering payment terminal
products that maximize user benefit.
NCR Corporation (NYSE: NCR) is a recognized world leader in
data warehousing solutions, ATMs, point- of-sale systems, high
performance scanners, and support services for retail,
financial and national accounts markets. NCR's business
solutions are built on the foundation of the company's
long-established industry knowledge and consulting expertise,
value-adding software, global customer support services, a
complete line of consumable and media products, and
world-leading hardware technology. More information about NCR
and its products may be found on the Internet at www.ncr.com.
IVI Checkmate Corp. was formed through the merger of
International Verifact Inc. of Toronto, Canada, and Checkmate
Electronics, Inc. of Atlanta, Georgia in June of 1998. Today
IVI Checkmate is the third largest electronic payment solutions
provider in North America. IVI Checkmate is a full-service
solutions provider in the U.S., Canada and Latin America
serving the retail, financial, hospitality, banking, healthcare
and transportation industries. With offices in the U.S. and
Canada as well as established strategic alliances and worldwide
partnerships, IVI Checkmate is well positioned to deliver
leading products and global technologies to our customers.
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, the Company's
dependence on its limited suppliers and manufacturers of
component parts of its products; 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 proprietary technologies (which may
be independently developed by competitors); the Company's
dependence on a small number of 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; and, the Company's dependence on
key personnel.
/For further information: L. Barry Thomson, President and
CEO, IVI Checkmate Corp., (416) 245-6700; John J. Neubert,
Executive Vice President/CFO, IVI Checkmate Corp., (770)
594-6000/ |
