Lipman, DataWave deploy ATMs with POS functionality in joint venture

Lipman, DataWave deploy ATMs with POS functionality in joint venture
Tags: Debit / Credit
March 6, 2002

VANCOUVER, B.C. -- DataWave Systems Inc. (CDNX:DTV.)(OTCBB:DWVSF) and Lipman USA have created a joint venture company, DLTO Co, LLC, to develop, market, own and operate ATM and POS activation systems.

Prototype Lipman ATMs using DataWave's POS activation technology to dispense prepaid phone cards have already been installed at selected sites, with field tests expected to continue for three months.

"Working closely with (Lipman) on the prototype ATMs has increased the pace of our technology development and generated several new ideas" said Josh Emanuel, DataWave president and CEO.

The two companies intend to approach markets where the placement of two separate machines may not have been viable.

Mony Zenou, president of Lipman USA, said, "We are pleased with the progress that has been made and are excited by the first results from the field tests."