Now There is a Clear Choice -- Global Payment Technology Leader Creates An Alternative High-Speed Network with Feature-Rich Reporting and Simplified All-Inclusive Pricing
High Performance Network Is Handling Almost 50% of All Transaction Traffic in Canada
PHOENIX, April 13, 2004 - Global electronic payment technology leader Hypercom Corporation (NYSE: HYC) today announced that it has entered the dial and IP POS transaction network business with a new high-performance network called HBNet that gives processors a competitive alternative source for information delivery services. The company also announced that the Hypercom network is already operational in Canada and, in its infancy, is already handling over 600 million transactions on an annual basis. That equals nearly 50% of all transaction traffic in that country, a percentage that is expected to jump significantly in the months ahead. This new Hypercom initiative is part of a long-term strategy to gain potential significant market share in the estimated 28 billion transaction dial POS market in North America, as well as the multi-billion transaction dial POS markets in EMEA (Europe, Middle East, Africa), Asia and Latin America.
Leveraging Hypercom`s global expertise in networking technology, HBNet? will speed the authorization and processing of electronic transactions for the retail point-of-sale, financial, government, healthcare and other transaction-based markets - giving processors a competitive, reliable and secure alternative to existing suppliers.
"We are introducing a highly reliable and cost-effective alternative to today`s existing dial POS network providers, and we are doing it with proven networking technology that is second-to-none," said Chris Alexander, Chairman and CEO, Hypercom Corporation. "The global market wants an intelligent alternative for dial merchants, and that is exactly what we are delivering."
"Hypercom has vast global expertise designing, installing and managing networks for financial institutions, governments and commercial businesses. We already support the networking needs of an array of blue chip, internationally recognized organizations through our equipment sales, and effective today, we are handling nearly 50% of the transaction traffic in Canada. HBNet is a natural extension of our business and it allows us to market a cost-effective, high quality service that leverages our core competencies," Alexander said.
"This new service is in direct response to the market`s demand for competition and a fresh approach to customer needs. It is a major step forward that gives processors a high performance alternative choice for information delivery services. And it builds on the 26 years of success that Hypercom has in delivering state-of-the-art card payment terminal, network and server solutions," said Scott C. Calliham, Senior Consultant, First Annapolis Consulting, Inc.
Continuous, Seamless Transactions for All Card Payment Terminals with State-of-the-Art Reporting Capabilities and No Single-Point-of-Failure
HBNet provides enhanced data communication services for transaction-based applications. Its advanced transaction network is powered by payment technology leader Hypercom`s robust, ultra high-density MegaNAC®180 Network Access Controllers (NACs), which are strategically positioned within the Public Switching Telephone Network (PSTN) and at processor data centers.
The network supports all point-of-sale/point-of-transaction card payment terminal protocols and formats communicating at up to V.92 speeds, including Hypercom FastPOS®, the 9600 bps fast train modem technology, which allows high-speed transaction processing, software downloads and batch uploads.
Additionally, with the MegaNAC 180`s unique parallel processing architecture, HBNet provides unparalleled resiliency, fail-over and transaction overflow capabilities. It delivers continuous, uninterrupted service, seamlessly load balances, and is constructed to have no single-point-of-failure. In the unlikely event that one component temporarily fails, a backup unit swings into action instantaneously and with no impact to customers. The network is designed to provide an unprecedented grade of service.
The HBNet network also incorporates a Web-based facility for processors to quickly access a rich array of statistical information. Data can be displayed in a variety of ways or mined in detail for trend analysis. Trending and exception analysis lets the processor quickly detect unusual transaction activity and take appropriate, proactive action.
Sharon Cline Leads HBNet,Inc.
Heading up HBNet is Sharon Cline, senior vice president and general manager. Ms. Cline is a nationally recognized expert in the merchant acquiring industry who joined electronic payment technology leader Hypercom from Transaction Transport Technologies, LLC (T3), where she served as president. In recognition of the importance of this new unit and recurring revenue-generating model for Hypercom, Ms. Cline reports directly to Chairman and CEO Chris Alexander, and the company has incorporated HBNet, Inc., as a wholly owned subsidiary.
"The acquiring market has long demanded an alternative to the services that are out there today, and we are responding to that demand with a reliable, powerful and effective solution that offers processors a fresh and highly competitive alternative for their dial POS merchant portfolios," said Sharon Cline. "This is a great step forward for the acquiring industry and Hypercom."
Proven, Global Technology Already Supports Many of the World`s Leading Financial Institutions
HBNet is a natural extension of Hypercom`s networking expertise. The payment leader`s technology already supports US government agencies, and many of the world`s leading financial institutions.
In addition to these and other existing large networks in the US, Latin America, Asia and Europe, Hypercom has created and installed customized networks for the Western Canada Lottery Corporation and Taiwan Lottery, and provides support to the Moscow Lottery and Fubon Bank, one of Asia`s leading financial conglomerates. Hypercom`s networking products have also been selected to enable cross-city and cross-bank transactions in over 40 major cities in China and, by 2005, will allow 40 million + bank cardholders to use their cards at any payment terminal in China.
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 and server solutions that help merchants and financial institutions generate revenues and increase profits.