Lipman Electronics Engineering (Nasdaq: LPMA; TASE: LPMA) has announced that its Europay, Mastercard and Visa (EMV) compliant NURIT 8010 point of sale (POS) terminal has been certified by Sistema 4B in Spain. This certification enables Lipman to sell its NURIT 8010 wireless terminal to all banks that process their payment transactions through Sistema 4B.
Sistema 4B is one of the largest and most highly integrated interbank clearing houses in Europe. Working with over 30 financial institutions, Sistema 4B provides a variety of highly personalized, efficient outsourced transaction processing services. Sistema 4B's network of member banks includes 12,500 ATM units and more than 325,000 POS terminals. In 2003, 572 million transactions, representing a total value of Є44 billion, were processed on the Sistema 4B network.
In order to receive the Sistema 4B certification, all terminals must meet strict security, EMV and application requirements. Specific Sistema 4B requirements include implementation of high capacity storage using MMC technology.
Lipman stated that the NURIT 8010 is one of only a few POS terminals to have received this certification.
Lipman's local subsidiary developed the Sistema 4B EMV application, based on Lipman technology.
Published by Globes [online], Israel business news - www.globes.co.il - on Tuesday, July 19, 2005