IVI to supply secure PIN entry devices for gasoline pumps manufactured by Tokheim

Business Wire, Sept 20, 1995

TORONTO, Ont.--(BUSINESS WIRE)-- --Sept. 20, 1995--IVI (International Verifact Inc.) announced today that it has signed a significant contract with Tokheim Corporation of Fort Wayne, Indiana, to supply secure PIN Pad entry technology modules to be integrated into an At-The-Pump payment system.

This will bring the rapidly expanding ATM/Debit payment option to the gasoline consumer with the added convenience of not having to move from the pump to complete the transaction.

Tokheim is one of the largest suppliers of gasoline pumps in North America. Tokheim markets their gasoline pumps throughout the world with major North American customers including Shell Oil, Exxon, Diamond Shamrock and Canadian Tire Gas Bars throughout Canada.

It is estimated that 25 percent of the installed gas pumps in the US have At-The-Pump payment systems for credit cards. These pumps and the remaining 75 percent of pumps can move into accepting ATM/Debit by installing the IVI PIN security module. Tokheim is currently in beta testing with two of its major customers. Upon successful completion of these tests, Tokheim will provide these pumps to customers wishing to install or convert to At-The-Pump ATM/Debit payment systems.

ATM/Debit growth in the US has lagged Canada's due to the decentralized banking network but has been steadily rising in the last three years. Monthly transactions in Canada have been growing since the inception and now stand at 33.7 million transactions per month. In the US, transaction volume is climbing and in 1994 had an annual growth rate of 41 percent, according to POS Today, a popular industry publication.

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, smart card readers, check encoders, and secure PIN entry devices. IVI trades on the Toronto Stock Exchange under the symbol'IVI'and on the NASDAQ as'IVIAF'.

CONTACT: L. Barry Thomson, President and COO, IVI

416/245-6700