China Union Pay orders Lipman PoS units

Source: Lipman Electronic Engineering

Lipman Electronic Engineering Ltd. (Nasdaq, TASE: LPMA) today announced that its subsidiary, Lipman China, has received an order for 20,000 point-of-sales units from China Union Pay (CUP), one of the leading financial institutions in China, to facilitate CUP's migration to EMV-compliant payment systems.

The order is for Lipman's NURIT 8320 POS terminal and the NURIT 222 PIN Pad, and is expected to be supplied through out 2006.

Lazy Yanay, Executive VP of Sales and Marketing of Lipman, said, "We believe this order from China Union Pay, one of the leading payment and transaction processors in China, speaks to the quality and security that our products bring to customers. We are delighted to continuously work with CUP, and to remain its only international vendor chosen during its rollout of electronic payment systems. As the leading POS supplier in the Chinese market, Lipman will continue to support its customers with the latest payment technology and solutions. We look forward to further expanding our business in China as the market continues to grow."

Xiao Yong, GM of Lipman China, stated "Lipman’s equipment is already compliant with the latest EMV standards for chip-based credit and debit card transactions. This fact, coupled with Lipman's reputation for reliability and security, make its products the best possible choice for CUP in its transition to EMV compliant transactions."

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