Certified Oil Signs Agreement With Q Comm
Will install new POS terminals in 102 stations, c-stores
COLUMBUS, Ohio -- Certified Oil Co. has inked a deal with Q Comm International Inc., a provider of prepaid transaction processing and electronic point-of-sale (POS) distribution solutions, for the tech firm to install the VeriFone 3740 POS terminal in all 102 convenience stores and gas stations throughout Ohio, West Virginia and Kentucky.
Using the VeriFone 3740 terminals, Certified Oil will have the ability to sell any of the 50-plus prepaid services offered by Q Comm, including prepaid wireless minutes, prepaid long distance, dial tone, Internet, MasterCard [image-nocss] and other services.
Michael Keough, president and CEO of Orem, Utah-based Q Comm, said Our partner, Best Telecom has secured this contract with Certified Oil, which reflects the successful penetration of midsized retailers to expand our presence at the point of sale.
Q Comm International is a prepaid transaction processor that electronically distributes prepaid products from service providers to the point of sale. It offers proprietary prepaid transaction processing platforms, support of various POS terminals, product management, merchandising, customer support and engineering. Its systems replace traditional hard cards that are costly to distribute; the systems also provide more comprehensive reporting and inventory management among other benefits, said the company. Q Comm's solutions are currently used by wireless carriers or mobile operators, telecom distributors and various retailers to sell a variety of prepaid products and services including prepaid wireless or prepaid mobile, prepaid phone cards, prepaid dial tone and prepaid bank cards, such as prepaid MasterCard.
Best Telecom Inc., Cranberry Township, Pa., manufactures, markets and distributes prepaid products throughout the United States. It has created more than 80 successful prepaid calling card platforms for distributors and large retail operations, it said. The company also said that it has become one of the largest distributors in Western Pennsylvania, West Virginia and Ohio, currently serving more than 100 distributors in more than 40 states.
It now offers a new pos activation program using Q-Comm as its transaction processor. The POSA system affords customers more control, less investment, less inventory and helps eliminate pilferage, it said. Through one POSA terminal, it can now market all prepaid products including wireless, long-distance phone cards and more.
Columbus, Ohio-based Certified Oil has 102 locations with 750 employees and 68 c-stores that operate in locations in Ohio, West Virginia and Kentucky.
In other Q Comm news, the company has developed a prepaid application to run on the Lipman Nurit 8320 multi-application POS terminal, for delivery of Q Comm's suite of prepaid products and services at retail points of purchase nationwide. Q Comm scheduled the launch for second-quarter 2005.
Israel-based Lipman Electronic Engineering Ltd. provides electronic payment systems. It develops, manufactures and markets a variety of handheld, wireless and landline POS terminals, electronic cash registers, retail ATM units, PIN pads and smart card readers, as well as integrated PIN and smart card solutions. In addition, Lipman develops technologically advanced software platforms that offer comprehensive and customized transaction processing solutions for its customers, as well as managed professional services such as onsite and call-center support with remote terminal management.
Also, Q Comm announced the completion of a private placement of 400,000 newly issued shares of common stock at $5 per share to both new and existing shareholders, generating gross proceeds to Q Comm of $2 million. In connection with this private placement, the company granted certain registration rights to the investors that commence six months following the closing.