News

Lipman launches unattended payment initiative

February 16, 2005

ROSH HAAYIN, Israel - Lipman Electronic Engineering, Ltd. (Nasdaq, TASE: LPMA) announced that its subsidiary, Dione Ltd., has launched its Unattended Payment Initiative, according to a news release. This program allows chip and PIN card payments to be accepted in sectors where such payments have previously not been possible.

The Unattended Payment Imitative was established for situations where an attendant is not necessary, including parking and travel tickets, pay-at-the-pump fuel, self-checkout retail kiosks and high value goods through vending machines.

A recent research report issued by Edgar, Dunn & Co. noted that the unattended payment sectors may provide an even greater potential market than the provision of chip and PIN to the traditional retail sector. The number of unattended points of sale that will require either the upgrade or addition of EMV compliant card payment technology worldwide is estimated by EDC to be between 7 and 9 million.

Dione is already working with the suppliers of machines to multi-national companies in the airline, city transport, retail banking, fast food, telecom and gaming sectors.

These companies have all adopted products from Dione's new range of Secura Integration Modules, incorporating Dione's new SecuraCell technology, which enables manufacturers to integrate proven chip and PIN technology into their own machines. Dione will also be able to support their customers' ongoing requirements with a range of flexible managed service solutions.

Shaun Gray, chief executive officer of Dione, commented, "We are very excited about the potential in the unattended payment market. It has uses in a wide range of businesses, in a variety of sectors, providing safer and easier transaction solutions. Dione is committed to delivering the highest standards of product and service, allowing our customers to protect themselves and their customers against the growing threat of fraud."