Lipman Electronic Engineering Ltd. (Nasdaq, TASE: LPMA) today announced that its NURIT 8320 and 8000S POS terminals have been certified by Telefonica Movistar Mexico for use on their wireless network. Lipman noted that Telefonica's network accounts for over 4 million subscribers and has coverage in 90 cities, making it one of the largest wireless networks in Mexico.
All wireless terminals must receive certification prior to deployment on Telefonica's GPRS network.
Lipman president and CEO Isaac Angel said "Through this certification, Lipman is now able to sell these terminals to banks and processors in Mexico that utilize the Telefonica wireless network. Our plan is to begin selling in Mexico in the second half of 2004."
"Our NURIT 8320 desktop terminal is designed for customers who require a more traditional solution, such as restaurants and retailers, while the 8000S handheld terminal is an effective solution for applications in which mobility is important, including taxi and courier services. Both terminals enable customers to offer new vertical applications, such as the ability to purchase pre-paid services directly at the point of sale. We look forward to capitalizing on the significant growth opportunity that exists in the Mexican market."
The use of card-based transactions in the Mexican market is increasing rapidly, as banks and merchants are working to expand the installed base of POS terminals throughout the country. The high cost of land-line connectivity has led to growing demand for wireless terminals in the market, as cellular operators offer service at low, fixed rates that are more cost-effective than dial-up connections, increasing the value of wireless terminals.
Angel added, "We are pleased that the NURIT 8000S is among the first handheld terminals to receive certification, while the NURIT 8320 is also among the first desktop terminals to be certified by Telefonica Movistar."
Lipman's corporate headquarters and R&D facilities are located in Israel. Lipman also maintains offices in the US, Turkey, China, Spain, Russia, Italy, Canada and Latin America.
Published by Globes [online] - www.globes.co.il - on Monday, June 07, 2004