Israeli Firm Lands US$3 MLN Contract From Indian Banks

Friday 18 March 2005 14:18 CET | News

Israeli firm Lipman Electronics Engineering, which develops technology to read and handle credit and smart card transactions, has won orders worth US$3 million from various Indian banks and business customers.

The Nasdaq listed company is planning to establish a subsidiary, Lipman India, in the second quarter of this year, to cater to the Indian market. Most of the Indian orders are for NURIT 8320, NURIT 2085 landline and NURIT 8010 GPRS and WIFI terminals, it said. Lipman develops a variety of handheld, wireless and landline POS terminals, electronic cash registers, retail ATM units, PIN pads and smart card readers, integrated PIN and smart card (chip & PIN) solutions. It also develops advanced software platforms for transaction processing, and managed professional services such as on-site and call-center support. The evolving electronic payment market in India represents a significant opportunity for Lipman to provide its solutions not only to the banking sector, but also to multiple government-driven projects and the cellular industry, Lipmans Vice President for marketing and sales, Lazy Yanay said in a recent press release.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce