New York Livery Cabs Install Wireless Credit Card Terminals, Announces U.S. Wireless Data; Convenience for Passengers - Safety for Drivers

Business Wire, August 7, 2001

Business & Technology Editors

NEW YORK--(BUSINESS WIRE)--Aug. 7, 2001

The New York State Federation of Taxi Drivers, Cynergy Data, Lipman USA and U.S. Wireless Data (USWD) (OTC:USWE) have launched a program to install New York City livery cabs with wireless credit card terminals.

In addition to successfully testing the technology, the program also aims to demonstrate that credit cards provide payment flexibility for passengers and improve safety for drivers.

The wireless credit card terminals are similar to those used in stores in that they allow drivers to accept VISA, MasterCard, American Express, Discover, and other forms of payment cards. They differ from their in-store counterparts, because they communicate over a wireless data network, making them ideal for mobile merchants such as livery cab drivers. When a passenger presents a credit card to a driver, the transaction is communicated from the terminal to the cardholder's bank and back via Synapse(SM) technology from U.S. Wireless Data. Synapse wireless transactions are completed in as few as five seconds, essentially as fast as cash. The wireless terminals are manufactured by Lipman USA, a publicly held subsidiary of Lipman Electronic Engineering, LTD., and a leading manufacturer of point of sale terminals. Transaction processing is provided by Cynergy Data, a leader in merchant services.

Previously, livery cabs did not offer passengers the option of paying with plastic. According to Fernando Mateo, president of the New York State Federation of Taxi Drivers, this resulted in missed opportunities. "Not having enough cash is no longer an impediment when passengers need to take a livery cab," said Mateo.

Mateo continued, "Drivers taking cash payments have frequently been the victims of robberies and violent crime. As paying with plastic catches on, livery cab drivers will have less cash on-hand in the vehicle, meaning there will be much less of an enticement for criminals to commit armed robbery. Livery cab drivers work hard for their income and deserve safer working conditions."

Marcelo Paladini, CEO of Cynergy Data, added "Cynergy Data is proud to help improve safety and convenience by providing a cashless payment method for livery cab drivers and their passengers. New York City communities that rely heavily on livery cabs now have the same payment options as passengers hailing taxis in Midtown Manhattan."

"This project is an excellent example of the capabilities of wireless credit card acceptance," said Dean M. Leavitt, chairman and CEO of U.S. Wireless Data. "Our Synapse technology is opening new markets for card payments where telephone dial-up is not feasible, by providing both the speed and mobility needed to make card transactions practical. Other applications include delivery services, home maintenance and repair services, and outdoor fairs and markets, just to name a few."

"Enabling the drivers to accept plastic as a form of payment is just the first stage of what promises to be a massive migration to the elusive cashless society for transportation and many other industries," said Mony Zenou, president and CEO of Lipman USA.

ABOUT U.S. WIRELESS DATA

U.S. Wireless Data, Inc. (www.uswirelessdata.com), founded in 1991, markets Synapse(SM), its proprietary technology for wireless point of sale (POS) and ATM transactions. By providing a seamless interface among all parties including terminal manufacturers, wireless carriers, and payment processors, Synapse enables payment card and ATM transactions to be processed extremely fast, without the cost and inconvenience of a telephone line. Synapse's Internet-based tools offer on-line, real-time transaction monitoring, remote diagnostics and automated terminal activation. NXT, the company's wholly owned subsidiary, provides landline transaction and data transport solutions to the transaction industry, and processes more than 500 million transactions each year. U.S. Wireless Data is headquartered in New York City.

ABOUT CYNERGY DATA

Cynergy Data is a full service provider of merchant services offering a wide range of electronic payment solutions for merchants nationwide. Product solutions for credit, debit, EBT and Gift Card processing; check conversion and equipment sales and leasing are provided. Focusing on quality service and new technologies, Cynergy Data has been a leader and innovator in merchant services since its founding in 1995.

ABOUT LIPMAN USA

Lipman USA, Inc. (www.lipmanusa.com) is a subsidiary of Lipman Electronic Engineering LTD. Lipman's NURIT product line revolves around the design and manufacture of advanced wireless and tel-line point-of-sale (POS) terminals and cash registers, betting and home services terminals, thermal and impact printers, PIN pads, smart-card readers, coin-operated or credit/debit/smart card controllers for integration into vending machine, commercial washer/dryer payment systems or numerous other card-type payment applications. Lipman continually strives to manufacture unique and sophisticated products that are: low-cost, simple to operate and program, systematically flexible being based upon well thought out hardware/software integration, and finally but not least, quality assured. The engineering development department is continually researching new concepts and has demonstrated its ability to quickly respond to the ever-present technological changes characterizing the field of data communications.