LIPMAN TERMINALS CERTIFIED BY PAYMENT OPTION SOLUTIONS, LLC.
Syosset, New York, June 9, 2003 - Lipman USA Inc., a global provider of Point-of-Sale terminals and solutions today announced the certification of the NURIT® 2085, NURIT® 3000, NURIT® 3010 and NURIT® 3020 point-of-sale terminals for Check Debit Processing through Payment Option Solutions, LLC. (POS) of Westbury, New York. This certification enables retailers to utilize most MICR check readers on NURIT terminals to take advantage of POS’ unique Check Debit Processing opportunity.
With the Paid On Signing product from POS, merchants simply pass the check through the reader and key in certain consumer information. Within nine seconds, the consumer’s personal bank account is accessed, the availability of funds is verified, and the account is debited similar to the way it would be in a traditional POS transaction.
“We have had a long standing relationship with Lipman throughout the years and this certification enables us to use a large array of check readers from different manufacturers with the Lipman product line,” said Craig Tims, President, Payment Options Solutions, LLC. “The Lipman line of products have been very reliable and marketable for us, and we look forward to expanding our base of Lipman products,” he added.
“We are very pleased to become a part of POS’ unique Check Debit Program. We expect that through this program we will be capable of penetrating sectors of the retail market that have been inaccessible up to now,” said Mony Zenou, President and CEO of Lipman USA.
About Lipman USA, Inc.
Lipman (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
About Payment Option Solutions,
LLC.
Payment Option Solutions (POS) is a full service 'Host Processor'
that provides fast, cost-effective transaction processing for all transaction
types. However, its business philosophy is different and ambitious. While they
support "core" transactions such as credit and debit card processing,
POS specializes in "non-core" point of sale services such as: 'Paid
on Signing' - Real-Time Check Debit Processing; 'POS Collect' - Electronic Check
Collection and Recovery; as well as other point of sale processing services/products.
POS' marketing programs target ISOs, Acquirers, Processors and Agent Banks,
and helps such audiences increase their revenue stream and expand their merchant
base. POS' innovative suite of products offers merchants a total turnkey processing
solution. www.paymentoptionsolutions.com
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From time to time the Company may issue forward-looking statements that involve a number of risks and uncertainties. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: business conditions and growth in the electronics industry and general economies, both domestic and international; lower than expected customer orders; delays in receipt of orders or cancellation of orders; competitive factors, including increased competition, new product offerings by competitors and price pressures; the availability of third party parts and supplies at reasonable prices; changes in product mix; significant quarterly performance fluctuations due to the receipt of a significant portion of customer orders and product shipments in the last month of each quarter; and product shipment interruptions due to manufacturing problems. The forward-looking statements contained in this document regarding industry and revenue trends, new markets, new product introductions, technology adoption, and future business activities should be considered in light of these factors.