Lightbridge`s Authorize.Net IP Payment Gateway and Hypercom Optimum T4100 to Combine to Deliver Speed and Cost Benefits to Retailers Nationwide
LAS VEGAS, April 19 -- Lightbridge Inc. (Nasdaq: LTBG), a leading provider of technology solutions that manage customer transactions, and Hypercom Corporation (NYSE: HYC), the global payment technology leader, today announced they have teamed up to increase the speed and security of card payment transactions while reducing costs for retailers nationwide. Both industry leaders have entered into a letter of intent to offer Lightbridge`s Authorize.Net Internet Protocol (IP) based Payment Gateway to retailers purchasing Hypercom`s new high-speed, high-performance, and multi-application Optimum T4100 point-of-sale (POS) terminal with Intel(R) XScale(R) technology.
"Every day we challenge ourselves to create card transaction solutions that are the smartest, fastest and most secure, all to help add to the business objectives and profit line of our customers and their customers. By integrating with Authorize.Net, we will deliver new levels of performance and flexibility to retail countertops throughout the U.S.," said O.B. Rawls IV, president, Hypercom North America.
Hypercom`s countertop Optimum T4100 packs a powerful Intel processor based on Intel XScale technology to deliver unprecedented multi-application performance and the industry`s fastest transaction speeds using IP-based technology, built-in dial back-up capability and the secure Authorize.Net Payment Gateway is expected to complete transactions faster than before.
"We are pleased to be working with Hypercom to deliver high speed, secure and cost effective IP-based payment solutions to our resellers and merchants," said Prakash Kondepudi, executive vice president, Lightbridge`s Authorize.Net Business Unit. "Given Hypercom`s experience in developing and delivering powerful, high speed point-of-sale card payment terminals, they are an ideal partner as we broaden the Authorize.Net Payment Gateway capabilities to support card present IP-based transactions."
The built-in support of the Authorize.Net IP-based Payment Gateway to Hypercom`s Optimum T4100 marks a significant milestone for both companies. This is the first time either company will have brought to retail locations an Internet-enabled payment solution that employs SSL security protocols and is specifically designed to speed up checkout lines and deliver enhanced profits for retailers nationwide.
"By bringing together the second-to-none payment technologies of Hypercom, Intel XScale and the remarkable IP-based Authorize.Net Payment Gateway technology, merchants will be able to reduce telecom costs, reduce phone lines and transaction times for their customers, and ultimately increase profits through card transactions as never before," said Eric Duprat, senior vice president, global marketing and product development, Hypercom Corporation.
When a retailer using Hypercom`s Optimum T4100 presses the send button, the card payment information is encrypted using 128-bit SSL technology and sent to the Authorize.Net transaction server. The server sends the data through the authorization network to the appropriate card issuer`s bank, using a secure, proprietary connection. The retailer then receives an approval or decline response within seconds, and the Authorize.Net server stores the transaction securely within its CISP certified operations center. Approved transactions are automatically settled each day and are typically funded within two to three business days.
"The combination of Hypercom`s Optimum T4100 technology with the Authorize.Net IP-based Payment Gateway is a great opportunity for Independent Sales Organizations to position themselves in a marketplace that has strong growth potential," Kondepudi added. "The technologies and services provided individually by Authorize.Net and Hypercom will be combined to create a powerful new sales opportunity providing solutions to retailers who are anxious to take advantage of IP-enabled processing speeds."
Authorize.Net and Hypercom will demonstrate this payment solution at the Electronic Transactions Association (ETA) Annual Meeting and Expo in Las Vegas, April 21 and 22.
About Authorize.Net ( www.authorize.net )
The Authorize.Net service provides secure, reliable, Internet Protocol (IP) based payment gateway solutions that enable merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, at retail, and on wireless devices. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer its industry leading payment services to their merchant customers. Authorize.Net is a service of Lightbridge, Inc.
Lightbridge, Inc. (Nasdaq: LTBG) is a leading provider of technology services and software that manage customer transactions. The Lightbridge suite of solutions leverages both intelligent automated systems and human expertise, delivered primarily through the efficiencies and cost savings of an outsourced business model. Businesses around the world use Lightbridge to manage their customer transactions so they can make smarter decisions, deliver better services, provide secure payments and optimize the Lifetime Value of their customers. For more information, visit www.lightbridge.com or call 1-800-LIGHTBR.
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.
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. Optimum and Design is a trademark of Hypercom Corporation. AUTHORIZE.NET, LIGHTBRIDGE and the Lightbridge logo are registered trademarks of Lightbridge, Inc. 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 10-K and subsequent 10-Qs.
Certain statements in this news release that are not historical facts, including, without limitation, those relating to the Company`s partnerships, products, services and markets are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current beliefs and expectations of the management of the Company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, (i) dependence on a limited number of clients, (ii) the Company`s revenue concentration in the wireless telecommunications business and the declining subscriber growth rate in that business, (iii) continuing rapid change in the telecommunications industry and payment processing industries, and other markets in which the Company does business that may affect both the Company and its clients, (iv) uncertainties about the impact of partnerships on the Company`s business, (v) market acceptance of the Company`s new products, services and technologies (vi) the industry risks associated with Authorize.Net`s business and operations including, without limitation, illegal or improper uses of Authorize.Net`s payment system, changes or failures to comply with credit card association rules, governmental regulation and the application of existing laws to Authorize.Net`s business and dependence on relationships with a third party payment processors, and (ix) factors disclosed in the Company`s filings with the U.S. Securities and Exchange Commission including, without limitation, its 2003 Annual Report on Form 10-K. The Company undertakes no obligation to update any forward-looking statements.
Authorize.Net Business Unit