Stock Watch: IVI Checkmate Benefits from GTE Pact

IVI Checkmate (Nasdaq: CMIV) rose 1 21/32 to 5 9/16 Tuesday following news that the company is involved in a joint venture with GTE Corp. (Nasdaq: CMIV) and Atomic Software to provide wireless credit-card authorization services to retailers and service providers.

IVI Checkmate will supply the terminals, Atomic Software will provide transaction-switching services, and GTE’s Wireless Services division will bundle the products with such support services as monthly billing.

The Toronto-based company said the agreement will allow it to extend its reach into the United States.

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