Concord EFS Awards Hypercom $13 Million Contract for Card Payment Terminals and Value-Added Web-Based Services
PHOENIX, Aug 7, 2002 -- Concord EFS Inc, a leading electronic commerce provider, has awarded Hypercom Corp. (NYSE:HYC) a contract valued at an estimated $13 million.
Under the terms of the agreement, Concord will deploy tens of thousands of Hypercom(R) card payment terminals and peripherals, including the ICE(TM) 5700 with integrated motorized check reader, along with Hypercom`s value-added electronic signature and receipt capture, and ICE-PAC(R) on-screen/receipt advertising Web-based services.
The ICE 5700 with integrated motorized check reader serves as the platform for Concord`s proprietary STAR Universal Terminal, which integrates credit, debit, electronic benefits transfer, check conversion and warranty services, and IDLogix(TM) age verification.
"The ability to deliver revenue-generating, time-saving applications to the merchant countertop is clearly an imperative that Hypercom`s terminals enable us to meet," said Edward A. Labry III, Concord EFS president.
"Merchants using the Concord systems will have the convenience and cost savings offered by PIN-secured debit cards, and be able to electronically capture and store millions of signatures and receipts and retrieve them for dispute resolution literally within seconds.
"Merchants will also be able to generate additional revenues with the on-screen and receipt advertising capability. And these are just two of several revenue-generating features merchants can leverage to maintain their competitive edge."
Hypercom`s electronic signature and receipt capture service (ERC) creates a paperless system that securely stores and retrieves electronic receipts on demand, virtually eliminating bank chargebacks and the need for merchants to secure and manually retrieve paper receipts.
The company`s ICE-PAC advertising service allows merchants to generate custom logos on receipts, and display and send sophisticated interactive messages to the customer when they are interacting with and have their attention focused on Hypercom`s ICE terminal at the point-of-sale.
Both of these services are available to merchants using Hypercom`s epic(TM) (ePOS-infocommerce(R)) compact, high performance touch screen-based ICE card payment terminals.
"Savvy merchants are demanding secure, high performance card payment terminals and value added services and applications that can help them generate new revenues at the point-of-sale. That is exactly what Concord is delivering here," said Chris Alexander, chairman and CEO, Hypercom Corp.
"Concord is on the cutting-edge of payment processing, and we are gratified to support their efforts. This is another strong validation of our epic ICE strategy and the unequaled versatility of our products."
About Hypercom (www.hypercom.com)
Hypercom Corp. 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.
Hypercom`s products include secure, high performance, Web-enabled card payment terminals that work seamlessly with its networking equipment and software applications for e-commerce, m-commerce, smart cards and traditional payment applications.
The company`s widely accepted ePOS-infocommerce (epic) framework of consumer-activated, EMV-certified, touch-screen ICE (Interactive Consumer Environment) terminals enable acquirers and merchants to decrease costs, increase revenues and improve customer retention.
Headquartered in Phoenix, Hypercom maintains an installed base of more than 5 million terminals in over 100 countries, which conduct over 10 billion transactions annually.
Hypercom, ICE-PAC and ePOS-infocommerce are registered trademarks of Hypercom Corp. ICE and epic are trademarks of Hypercom Corp. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.
Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Hypercom management believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained.
Factors that could cause actual results to differ materially from expectations include industry, competitive and technological changes; risks associated with international operations and foreign currency fluctuations; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and other risks detailed from time to time in Hypercom`s SEC reports, including the company`s most recent 10K and subsequent 10Qs.
CONTACT:
Hypercom Corp.
Pete Schuddekopf, 602/504-5383
pschuddekopf@hypercom.com
Montner & Associates
Deb Montner, 203/226-9290
dmontner@montner.com
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