Vancouver, British Columbia, Canada, November 1, 2002 (TSX Venture Exchange: DTV, OTCBB: DWVSF):
DataWave Systems Inc. (TSX Venture Exchange: DTV; OTCBB: DWVSF) is pleased to announce that it has signed a twenty-year licensing agreement with Lipman USA Inc. Under this agreement, Lipman can use DataWave's card dispenser technology to enable them to distribute and recharge multiple prepaid products via their entire ATM product line. The technology, together with all future improvements, modifications and enhancements, is an add-on and totally separate from the Lipman kiosk ATM technology.
DataWave and Lipman formed a joint venture in 2000/2001 to create an ATM capable of dispensing prepaid phone cards. The new licensing agreement allows both parties to take this collaboration to the next level.
"DataWave is excited to add another dimension to its ongoing relationship with Lipman. Once again, we're able to offer customers a compact alternative to two or more separate machines, while at the same time creating additional opportunities for DataWave to distribute prepaid products." said Josh Emanuel, DataWave's President and CEO.
Mony Zenou, President and CEO of Lipman USA, said "Market acceptance of the initial ATMs selling prepaid phone cards was excellent and our newest product, the NURIT® ATM Kiosk, selling multiple prepaid products, is already being met with tremendous enthusiasm by both existing and new customers. The technology offered by DataWave is helping us to make this happen."
Lipman's NURIT® ATM Kiosk and NURIT Cashless Kiosk are innovative, feature-rich self-service kiosks that support a variety of consumer-based financial service applications. The kiosks accept debit cards and credit cards, as well as cash, at the point-of-sale.
Installation of the NURIT ATM Kiosks will commence by the end of 2002.
About DataWave (www.datawave.ca)
DataWave has been an innovator and developer of prepaid and stored-value programs since it was founded in 1994. DataWave pioneered a system that allows for point-of-sale activation of high value, high shrinkage products, such as cash cards and phone cards. The System works equally well over the Internet, through intelligent free-standing vending machines or with various card activation devices, including cash registers.
About Lipman USA (www.lipmanusa.com)
Lipman USA is a wholly owned subsidiary of Lipman Electronic Engineering, Ltd. Operating worldwide, Lipman ranks among todays premier providers of robust, flexible, and highly customizable electronic payment solutions. As the leading supplier of wireless point-of-sale terminals in the United States, Lipman manufactures fixed and handheld transaction solutions that seamlessly integrate hardware, application, and back-office software to help processors, providers, and the merchants they serve do business better. Lipman Electronic Engineering, Ltd. is listed on the Tel Aviv Stock Exchange under the symbol LPMA.TA.
DataWave Systems Inc.
Josh Emanuel
Chairman & CEO
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For more information contact:
Business Development
Bill Turner VP Business Development (604) 709-5112
bturner@datawave.ca <mailto:bturner@datawave.ca>
Sales and Marketing
Josh Emanuel President and CEO (973) 839-9100
jemanuel@datawave.ca <mailto:jemanuel@datawave.ca>
"DataWave" is a registered trademark of the Company. All other trademarks and trade names referred to are the property of their respective owners.
This news release may include statements that constitute forward-looking statements. Please be cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure documents filed from time to time with the TSX Venture Exchange, BCSC and SEC.
"The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release."
