First National Bank of South Africa Awards Hypercom Contract for Networking Technology and up to 5,000 Card Payment Terminals
EMV Specialist Consultancy Team provides EMV Strategy and Migration Paths to Leading International Financial Institutions
Phoenix, AZ and Woking, UK, August 20, 2003–The First National Bank of South Africa, a division of FirstRand Bank Ltd, a leading bank in South Africa, has selected advanced networking technology and up to 5,000 EMV-certified ICE™ card payment terminals for a fully secure and complete, end-to-end EMV transaction system from global electronic payment technology leader Hypercom Corporation (NYSE: HYC).
Hypercom, leading with its established EMV Specialist Consultancy team, and partner Grintek Telecom, an integrated communications solutions provider and division of Grintek Group Limited, were selected to provide First National Bank (FNB) with a secure, end-to-end EMV technology migration solution. Unique to the industry, Hypercom’s EMV Specialist Consultancy team are experts with a full understanding of EMV technologies and migration issues.
Hypercom’s highly advanced card payment technology has earned Hypercom global honors in the last several months alone including Frost & Sullivan’s Company of the Year award–for the second consecutive year–and the Visa EU and CEMEA 2003 Chip Vendor of the Year Award for EMV Migration Excellence. Continuing a series of global marketplace wins, Hypercom has been awarded several new contracts for its card payment terminal technology with HyperSafe™ operating system security.
Mr. Fred Malan, Head of FNB’s Merchant Acquiring Delivery Channel department said, “Hypercom’s EMV technology has allowed us to offer our retail merchants fast, secure transactions, lower cost of ownership and a broad product range to select from.”
He adds, “In our selection process it was important to gain extra benefits, and Hypercom’s technology has allowed us to do just that. Reducing our customer service calls and improving customer satisfaction in terms of ease-of-use and transaction speed are just two examples of the many benefits this technology is delivering.”
Chris Alexander, Chairman & CEO, Hypercom Corporation, said: “First National Bank of South Africa wants the fastest, most secure and cost-effective EMV card transaction technology for their merchants, and their selection of Hypercom demonstrates yet again that Hypercom delivers just that and more.”
About First National Bank, South Africa (http://www.fnb.co.za)
First National Bank is a division of FirstRand Ltd (FSR), a financial services company that is listed on the Johannesburg Securities Exchange (JSE).
First National Bank is a major provider of transactional banking services and credit facilities to large and medium corporates, financial institutions and government bodies. FNB’s strong relationships with our customers give us the ideal opportunity to expose them to the wider financial services offerings of the FirstRand Group.
About Grintek Limited (http://www.grintektelecom.com)
Grintek Limited (GNK) is quoted on the Johannesburg Securities Exchange (JSE) in the electronics sector and has facilities in Pretoria, Centurion, Cape Town and Durban. The group is a contractor and supplier of electronics-related products and services to the telecommunication, mining, avionics, defence, air traffic control, security and power utilities markets in the RSA and selected export markets, making the group a technological leader in the South African electronics industry.
Grintek Telecom is one of South Africa’s leading empowerment ICT and telecommunications solutions and integration companies. Since its formation in 1993, Grintek Telecom has grown rapidly from a specialist niche telecommunication company, to the ICT integrator it is today.
The company’s telecommunications solutions have been implemented in more than 500 top South African companies and it provides solutions, services and maintenance in 23 African countries.
About Hypercom Corporation (http://www.hypercom.com)
Celebrating 25 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-sale for consumers, merchants and acquirers, and yield increased profitability for its customers. Hypercom’s products include secure web-enabled information and transaction terminals that work seamlessly with its networking equipment and software applications for e-commerce, m-commerce, smart cards and traditional payment applications.
Hypercom’s widely-accepted Internet-enabled, consumer-activated and EMV-approved touch-screen ICE (Interactive Consumer Environment) information and transaction terminals enable acquirers and merchants to decrease costs, increase revenues and improve customer retention.
Headquartered in Phoenix, Arizona, Hypercom has shipped more than six million terminals in over 100 countries, which conduct over 10 billion transactions annually.
Hypercom is a registered trademark of Hypercom Corporation. ICE and HyperSafe are trademarks 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. 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.