Hypercom Creates Fully Integrated Contactless Payment Terminal Supporting Mastercard PayPass
New Era of Convenience Unfolding as Consumers Pay Via the ‘Wave’ of a Card
PHOENIX, Sept. 9 /PRNewswire-FirstCall/–Hypercom Corporation (NYSE: HYC) announced today that its advanced electronic payment technology will now help support MasterCard’s PayPass™ “contactless” payment program. The inaugural appearance of these Hypercom(R) solutions will soon arrive in select Orlando-based Fazoli’s Italian restaurants. Together, Hypercom and Fazoli’s will provide Orlando MasterCard PayPass consumers with a simpler way to pay.
Using MasterCard PayPass, consumers simply tap or wave their payment card on a specially equipped merchant terminal that then transmits payment details wirelessly, eliminating the need to swipe the card through a reader or hand it over to a store clerk. The new solution is ideal for traditional cash-only environments where speed is essential, including gas stations, movie theaters and fast casual restaurants like Fazoli’s.
“Hypercom is pleased to contribute to a new era in card-based payments with MasterCard,” said O.B. Rawls IV, president, Hypercom North America. “Hypercom’s terminals are easily implemented, and provide retailers with an economic radio frequency (RF) solution to help enable consumers with a simpler way to pay.”
Going forward, Hypercom’s ICE™ 5500Plus and ICE 6000Plus terminals will incorporate a special antenna and reader to offer merchants a seamless, fully integrated solution for MasterCard PayPass. In addition, retailers like Fazoli’s with existing Hypercom terminals can add an auxiliary RF reader with virtually no changes necessary. Hypercom’s state-of-the art RF technology and card payment terminals enable break-through point-of-transaction solutions at significantly lower costs than previously available RF offerings.
“Hypercom delivers exciting functionality to the point-of-sale with their fully integrated terminals and add-on solutions for MasterCard PayPass. They fully support our goal of little or no software modifications and new cost points for retailers who implement radio frequency payment with PayPass,” said Joan Hennessey, vice president, e-Business at MasterCard International.
“MasterCard PayPass will help Fazoli’s serve “Real Italian. Real Fast.” This simple and fast payment method will enhance our customer’s overall experience at Fazoli’s,” said John Hesselbrock, IT business analyst, Fazoli’s Restaurants.
Fifth Third Bank Processing Solutions (Cincinnati, Ohio) is the transaction processor for Fazoli’s.
About MasterCard PayPass™
MasterCard PayPass™ is a new “contactless” payment initiative that provides consumers with a simpler way to pay. Using MasterCard PayPass, consumers tap their payment card on, or wave them in front of, a specially equipped merchant terminal, eliminating the need to swipe the card through a reader or hand the card over to a clerk. Account information is then securely handled by the terminals and then processed through MasterCard’s highly trusted acceptance network just like a standard magnetic stripe transaction. Moments after a consumer taps the terminal with his or her PayPass card, they receive payment confirmation and are on their way. In many cases the consumer can even use their PayPass card without removing it from their wallet, making it even more convenient and secure to use. MasterCard PayPass is currently being trialed with three of MasterCard’s key member financial institutions in a pilot that involves more than 16,000 cardholders and approximately 60 merchant locations in Orlando, Florida. For additional information, please visit http://www.paypass.com.
About Fazoli’s (http://www.fazolis.com)
Fazoli’s Italian Restaurants bring together two of America’s most popular dining concepts–the family Italian restaurant and a fast-casual atmosphere. Fazoli’s promotes a great experience, reasonable prices, quality food, and quick service. The menu includes Italian favorites like spaghetti and meatballs, fettuccine Alfredo, lasagna and ravioli, along with its signature Submarinos and panini sandwiches, salads, and free breadsticks.
About Hypercom (http://www.hypercom.com)
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 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. 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.
For further information, please contact: Pete Schuddekopf of Hypercom Corporation, +1-602-504-5383, email@example.com; or Christina Costa of MasterCard International, +1-914-249-4606, firstname.lastname@example.org.