Hypercom targets Spanish savings banks

Source: Hypercom Corporation

Hypercom Corporation (NYSE: HYC) announced today that it is entering Spain's savings banking sector and commencing product sales, effective immediately.

The actions follow certification of the Optimum T2100 card payment terminal for use in the country by the EURO 6000 Savings Banks.

"We are bringing to this important country's banking and retail sectors high security, multi-application information and transaction payment products and networking devices that expedite the fast and secure transmission of vital financial and business data," said Kazem Aminaee, Senior Vice President and General Manager, Hypercom EMEA (Europe, Middle East, Africa). "EURO 6000 is committed to enhancing the efficiency of the Spanish banking system with innovative, effective and secure payment technology. We have the products to help meet that objective, and believe that the potential market is considerable."

The use of payment cards and terminals is escalating rapidly throughout Spain. The number of cards has jumped to more than 68 million from 10 million in 1992 with debit cards overtaking their credit counterparts four to one, according to industry sources. Nearly 15% of retail purchases are now made with cards versus cash. The installed base of point-of-sale terminals now exceeds one million, and that figure is expected to double within the next three years.

Hypercom's Optimum T2100 is a high-speed 32-bit EMV 4.0 device with an integrated EMV-compliant smart card reader, built-in printer, large memory to accommodate multiple applications, support for multiple languages and currencies, hand-over countertop design and graphical interface that guides customers through transactions with clear prompts.

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