Yes! the WMT contract is good news and I just got the annual report,|
hot off the press. Analyst coverage should follow soon:
World's leading mass merchandiser selects IVI terminals and their
ComPOSit(R) application development tool for use in Wal-Mart Stores.
TORONTO/BOULDER, Colo., April 10 /CNW-PRN/ - International Verifact
(TSE:IVI, NASDAQ: IVIAF) announced today its largest single order to the U.S. marketplace since its inception with the signing of a contract to supply Wal-Mart Stores, Inc. (NYSE:WMT ) and subsidiaries with IVI's PROTEGE point-of-sale terminals and ComPOSit developed application for use in a fully integrated electronic payment solution.
Bill McKiever, Executive Vice President and General Manager, IVI (US),
stated ''The selection of IVI's Protg terminal by the world's leading
retailer is a strong endorsement for our hardware and software
technology. With the high standards of responsiveness that Wal-Mart sets for its technology partners, we are proud to have made the grade in being chosen to perform in this rollout. This fits in with IVI's ongoing plans to be a quality supplier to the country's large and mid-size retailers for EFT applications.''
''This is a major win for IVI and we are proud to have earned this
business. This selection of IVI by Wal-Mart is a terrific endorsement of our overall strength. We have performed and will continue to perform professionally in the terminal and software development arena, allowing flexibility for our customers' present and future needs. Our people have worked hard to supply Wal-Mart with a state-of-the-art solution that will serve them reliably into the future. We look forward to a long term relationship with Wal-Mart,'' said L. Barry Thomson, President and CEO, IVI.
Wal-Mart's Vice President of Information Systems, Kevin Turner stated,
''Assurance of reliable product for our Point-of-Sale is key to our
customer service. We are convinced that IVI's Protg terminal and related software provides us with reliable and flexible terminals, allowing us to meet our current needs as well us move into the future with new applications. As an organization, IVI has met the stringent requirements of price/performance that Wal-Mart requires. This product will perform debit and EBT applications in English or Spanish to ease customer activated transactions.''
As of January 31, 1997, the company had 1,960 Wal-Mart stores, 344
Supercenters, 436 Sam's Clubs, 6 Argentina Units, 5 Brazilian units, 136 Canadian Wal-Mart stores, 2 China stores, 2 Indonesian Supercenters, 152 Mexican units, and 11 Puerto Rico units.
Wal-Mart (WMT) operates in all fifty (50) states, Argentina, Canada, and Puerto Rico, and in Brazil, China, Indonesia, and Mexico under joint venture or franchise agreements. Wal-Mart employs over 675,000
Associates in the United States and 59,000 internationally. Its
securities are listed on the New York, Pacific and Toronto stock
IVI is engaged in the design, development and sale of electronic payment solutions for retailers, financial institutions, governments and other businesses. IVI's hardware and software products include point-of-sale debit/credit/EFT/EBT terminals, check readers, small card readers, check encoders, and secure PIN entry devices. Additional company information is available on the IVI website at www.ivinet.com.
SOURCE International Verifact Inc.