|"Cristine Kerr" <firstname.lastname@example.org>
|Wed, 25 Feb 2004 09:40:51 +1000
WAL - Wavenet
Wavenet International Limited has just received their first order from Lipman Electronic Engineering Ltd (US).
Wavenet's BM3 wireless modems will be integrated into Lipman's EFT (Electronic funds transfer) and POS (point of sale) solutions which will enable users to conduct debit and credit transactions in a mobile environment over worldwide networks.
This initial order for Wavenet's BM3, which is anticipated to be the first of repeat quarterly orders from Lipman, is valued at $500K.
Lipman has subsidiaries in the US, China, Turkey, Far East, Latin America, Spain, Russia, Italy, Canada, and Latin America.
Wavenet is evidencing growth in demand for wireless point-of-sale terminals. They are seeing a trend in the US towards cashless transactions and mobile commerce which are ideally suited to their technology.
Wavenet expects to see more groups making decisions to move from trials to mass deployments over the next few months.
The technology for this niche product was developed by Wavenet under an AusIndustry R&D Start Grant and Wavenet continues to conduct R&D into more adaptable wireless architectures capable of working over a number of networks.