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PHOENIX, Nov 3, 2004 /PRNewswire-FirstCall via COMTEX/ -- Card payment processing solutions provider euroConex has awarded global payment technology leader Hypercom Corporation (NYSE: HYC) a US$4 million contract to lead the changeover of card payment technology in Ireland. Over 150 million point-of-sale card payment transactions annually, now conducted via magnetic stripe cards and signatures, will be migrated to chip and Personal Identification Numbers (PIN) card transactions using Hypercom's ICE™ 5500 & HFT 106 terminal technology.
The first Chip and PIN transaction in that country using Hypercom's ICE card transaction technology occurred at the Nas na Riogh Bookshop, in Naas/Newbridge. That transaction used a UK Switch Card taken as International Maestro on Hypercom's ICE 5500 card payment terminal and HFT 106 PIN pad. The Naas/Newbridge launch of Chip & PIN was the first phase of a national roll out that is now in full swing, helping to protect against fraudulent transactions. The roll-out is in-line with the international shift towards more stringent card security standards and the industry-mandated migration to EMV card technology.
"Hypercom delivers intelligently integrated card payment technology that meets the critical needs of the world marketplace," said Guilherme Blumenthal, Executive Vice President, Sales and Operations, Hypercom Corporation. "We are pleased that euroConex has selected Hypercom to introduce the Chip & PIN initiative in the Republic of Ireland."
"Having the first live Chip & PIN transaction in Ireland going through the euroConex network is a milestone, and we look forward to rolling out the Chip & PIN capability nationally in the months ahead," said Erica McKinney Product Development Manager, euroConex.
"Our partnerships and our people have enabled us to become leaders in Chip & PIN implementations. It is an honor and a privilege to be associated with a leading player, euroConex, in its implementation of its Chip & PIN programme in Ireland. We look forward to working with euroConex to provide even more technology innovations in Ireland and throughout Europe," said Ted Satchell, President of Hypercom's EMEA Region.
Fast, Smart, Easy-Use Terminals = Increased Revenues, More Value for Merchants
Businesses worldwide recognize Hypercom as the world's premier provider of fast, high performance card payment and transaction networking technology and products. Hypercom's ICE devices are high performance, touch screen-based card payment terminals that incorporate physical security features.
In addition to embedded payment applications, Hypercom's ICE terminals support a range of value-added applications and services including euroConex's Dynamic Currency Converter (DCC) that allows travelers to pay for their purchases in their home currency. The smart, fast, easy-use terminals also support on-screen advertising, interactive electronic coupons, eTop-Ups -- as well as secure credit, debit, and EMV smart card functions. All Hypercom® ICE terminals are also designed to meet the latest security requirements for PIN-based transactions, including PED, 3DES, EMV and specific local security requirements.
Hypercom's HFT 106 secure, fully EMV compliant and easy-use chip card PIN Pad devices facilitate quick chip card authentication and cardholder identification. The compact device can be attached to card payment terminals and also provides a cost-effective upgrade path for currently installed magnetic stripe card payment terminals. With Hypercom's HFT 106, acquirers can extend the life of their terminals and quickly increase the size of their chip card acceptance infrastructure.
About euroConex (www.euroconex.com)
euroConex is the European affiliate of NOVA Information Systems and a wholly owned subsidiary of US Bancorp. The company provides an integrated payments processing service to financial institutions and merchants in Ireland, the UK, France, Sweden, the Netherlands, Spain and Poland using a multi-currency platform. In addition to Point of Sale, International Point of Sale and eCommerce solutions, euroConex also provides a range of specialist multi-currency products including Dynamic Currency Conversion (DCC).
About Hypercom (www.hypercom.com)
Celebrating 26 years of technology excellence, innovation, and leadership, Hypercom Corporation is a leading global provider of electronic payment solutions that add value at the point-of-transaction for consumers, merchants and acquirers, and yield increased profitability for its customers.
Widely recognized as the global payment technology innovator, Hypercom delivers comprehensive card payment terminal, network access device, server and transaction networking solutions that help merchants and financial institutions generate revenues and increased profits.
Headquartered in Phoenix, Arizona, Hypercom's card payment terminal, network and server solutions are leading the transformation of electronic payments in more than 100 countries.
Hypercom is a registered trademark of Hypercom Corporation. ICE is a trademark of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners. This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding product technology, sales, deliveries, revenues and profits. These forward-looking statements are based on management's current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward-looking statements include, industry, competitive and technological changes; the loss of, and failure to replace any significant customers; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and services; the performance of suppliers and subcontractors; risks associated with international operations and foreign currency fluctuations; the state of the U.S. and global economies in general and other risks detailed in our filings with the Securities and Exchange Commission, including the Company's most recent 10-K and subsequent 10-Qs. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.
Contacts:
Pete Schuddekopf Gwyneth Pritchard
Hypercom Corporation Hypercom Europe, Middle East & Africa
602.504.5383 44.1483.718600
pschuddekopf@hypercom.com gpritchard@hypercom.com
SOURCE Hypercom Corporation
Pete Schuddekopf of Hypercom Corporation, +1-602-504-5383, pschuddekopf@hypercom.com, or Gwyneth Pritchard of Hypercom Europe, Middle East & Africa, 44.1483.718600, gpritchard@hypercom.com
http://www.hypercom.com