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Turkey's Yapi Kredi Bank buys Lipman POS terminals

14 November 2005  |  3822 views  |  0 Source: Lipman Electronic Engineering

Lipman Electronic Engineering Ltd. (Nasdaq, TASE: LPMA) today announced that Yapi Kredi Bank, one of the largest banks, a leader of the acquiring and issuing card market in Turkey and Lipman's first customer in the region, has placed an initial 35,000 terminal order for Lipman's new NURIT 8210 Point of Sale (POS) terminal.

Shipments to Yapi Kredi will begin during the fourth quarter of 2005, and the order is expected to be supplied in full during the first quarter of 2006.

Yapi Kredi worked closely with Lipman throughout the development process, and made substantial contributions to both the final design and end-user interface of the terminal. In addition, Yapi Kredi was actively involved in the extensive testing and field trials that have been conducted in advance of the launch.

The unique design of the exceptionally secure NURIT 8210 simplifies cardholder Personal Identification Number entry and merchant operation for easy EMV migration. It comprises a convenient handover customer interface unit with integrated EMV PIN Pad, and a stationary base unit.

The NURIT 8210 provides a superior level of security, designed to meet or exceed widely recognized global and regional standards.

The NURIT 8210 also offers users many value-added features and options, including audio and voice guidance and expandable SD and MMC Flash memory for large audio and vertical application data storage.

The NURIT Operating System ensures compatibility with all existing NURIT terminal applications, protecting customer investment and reducing Total Cost of Ownership.

Isaac Angel, President and CEO of Lipman said, "We are extremely pleased to receive this significant order from Yapi Kredi, one of our most significant customers, and to introduce the NURIT 8210 at CARTES, the world's foremost event for the smart card and payment card industry. We believe that demand for this innovative solution will be significant, as the NURIT 8210's convenience and broad feature set are complimented by its robust security. The launch of this terminal comes following extensive work, both independently and in conjunction with Yapi Kredi, and underscores Lipman's commitment not only to technological innovation, but our dedication to our customers and philosophy that each customer is in fact a partner. We believe this new terminal represents an optimal value-added solution for Lipman's customers in a variety of markets throughout the world and we are excited about its potential for success upon commercial launch."

Nazan Somer, Executive Vice President, Credit Cards and Retail Banking of Yapi Kredi Bank said, "We are pleased to once again be working with Lipman on an important project in conjunction with a significant nationwide terminal deployment. Lipman's innovative solutions and commitment to offering highly customized, best of breed solutions will enable us to bring value to both our merchant customers and Turkish consumers."

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