Lipman reports new PoS hardware deal with ICBC

Source: Lipman Electronic Engineering

Lipman Electronic Engineering Ltd. (Nasdaq, TASE:LPMA) today announced that it has entered into a $2.5 million contract to supply NURIT 8320 and NURIT 8000 Point of Sale terminals and NURIT 222 PIN Pads to the Industrial and Commercial Bank of China (ICBC).

This order will enable the expansion of a previously announced joint project between ICBC and China National Petroleum Corporation (CNPC) to equip CNPC petrol stations with Lipman terminals. CNPC will be using these additional
terminals to extend the project from the initial 8,000 petrol stations to more than 14,000 stations, resulting in one of the largest POS terminal deployments in China to date.

Through this program, CNPC is deploying customized solutions using Lipman's mobile NURIT 8000 with WiFi wireless technology and NURIT 8320 with Ethernet and modem connectivity, as well as Lipman's NURIT 222 PIN Pad. Lipman's WiFi devices allow CNPC customers to pay for fuel from their vehicles for the first time in China's history, both quickly and securely.

Lazy Yanay, Executive Vice President Sales and Marketing of Lipman said, "We are very pleased to expand our relationship with ICBC and CNPC, leaders in the Chinese banking and petroleum industries. Lipman is honored to be chosen for a second consecutive year as the leading solution provider in this nationwide project. This follow-on order, which further increases Lipman's footprint in the Chinese market, speaks to our ability to bring electronic payment solutions to new areas, and in the process, create sizeable business opportunities. We are proud to be among the leaders in the Chinese market and we remain committed to pursuing additional business opportunities in China as this important market grows."

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