LIPMAN AND RICHSOLUTIONS PARTNER TO OFFER COMPLETE PROCESSING SOLUTION FOR ELECTRONIC SIGNATURE, CHECK IMAGING AND RETRIEVAL
NURIT®Capture
Streamlines Check Processing at the Point-of-Sale and Beyond
ORLANDO,
FL - APRIL 10, 2002 - Lipman, a global leader in wired and wireless POS
terminal solutions, and RichSolutions, an ePayment service provider, have
released a full end-to-end capture, archival and retrieval system for
signature/receipt and check imaging. ISOs, processors and merchants utilizing Lipman terminals
can immediately take advantage of NURIT Capture,
which combines Lipman's NURIT terminals with RichSolutions’ new PaymentAppliance
Server technology, providing an easy to use system with online retrieval
functionality. NURIT Capture is
available as a monthly service offering, or the PaymentAppliance Server
technology can be licensed from Lipman.
Electronic Signature and Receipt Capture is a
system that securely stores and retrieves electronic receipts on demand,
virtually eliminating bank charge-backs and the need for merchants to store and
manually retrieve paper receipts. Using
Lipman terminals, customers swipe payment cards as they normally would. The electronic data is sent to the
PaymentAppliance Server where it is securely stored and can be easily retrieved
over the Internet. The integrated charge-back
defense mechanism allows for the quick location and retrieval of the disputed
transaction, which can then be sent to the appropriate party for dispute
resolution. This process complies with MasterCard® and VISA®
operating regulations.
“The enhanced service and
potential cost savings for ISOs and merchants is substantial,” said Mony Zenou,
President and CEO of Lipman USA. “Reducing charge-backs and the need to store
and retrieve receipts is an important goal for virtually every retailer, and a
necessity in today’s market. Most importantly, ISO’s want to own their solution,
therefore it must be reliable and affordable, NURIT Capture is exactly that.”
Electronic Check Capture and
Retrieval Service is a system that electronically processes checks, a function
known as electronic check conversion.
This process includes depositing the funds into merchants’ back
accounts, while securely capturing and storing the check images. Merchants simply scan checks as they do
today using a Lipman terminal and an image scanner that sends the check image
to the PaymentAppliance Server, where the image is securely stored. ISOs and merchants can quickly and easily
retrieve check images over the Internet on demand, virtually eliminating bank
disputes and the need for merchants to manually store and process paper
checks. This process complies with
NACHA’s new electronic check conversion guidelines.
“With NURIT Capture, merchants of any size are
able to take advantage of electronic signature and check image capture
technology to automate point-of-sale transactions,” said Bill Pittman,
President of RichSolutions, Inc.
“Lipman’s popular point-of-sale terminals and RichSolutions’ Image
Capture and Retrieval solutions enable merchants of any size to take advantage
of these services, which reduce operating costs, transaction times, and losses
due to charge-backs and fraud.”
As part of their agreement, RichSolutions and Lipman will continue developing value added services using Lipman terminals and the PaymentAppliance Server. Lipman and RichSolutions will be demonstrating the NURIT Capture solutions at the Electronic Transaction Association (ETA) Annual Meeting and Exhibition in Orlando, FL. booths 116 and 315, April 10-12.
ABOUT THE COMPANIES:
Lipman USA, Inc. (www.misteriodeobanos.org) is a wholly owned subsidiary of Lipman Electronic Engineering, Ltd. Operating worldwide, Lipman ranks among today’s premiere providers of robust, flexible and highly customizable electronic payment solutions. The leading supplier of wireless point-of-sale terminals in the United States, Lipman manufactures fixed and handheld transaction solutions that seamlessly integrate hardware, application and back-office software to help processors, providers and the merchants they serve do business better. Lipman Electronic Engineering, Ltd. is listed on the Tel Aviv Stock Exchange under the symbol LPMA.TA
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The information contained in this news release, other than historical information, consists of forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those described in these statements. Forward-looking statements regarding the timing of acquiring and developing new products, of bringing them on line and of deriving revenues and profits from them, as well as the effects of those revenues and profits on APRIVA and Lipman USA margins and financial position, are uncertain because many of the factors affecting the timing of those items are beyond either company’s control.