|
4/18/2007
HYPERCOM TO INCLUDE PLANET PAYMENT'S MULTI-CURRENCY PROCESSING SOLUTIONS AS STANDARD APPLICATIONS IN T4100 TERMINALS
Enables Acquirers and Processors to Offer Localized Pricing Solutions without Additional Certifications
Hypercom Corporation (NYSE: HYC) and Planet Payment [LSE:AIM: PPTR and PPT], a leading international multi-currency payment and data processor, today announced support for Planet Payment's multi-currency processing product as an available application configuration within Hypercom's SPOS 32 software for the popular Optimum T4100 in the United States. The two solutions, Planet Payment's Dynamic Currency Conversion (DCC) and Multi-Currency Pricing (MCP) services, provide merchants with powerful pricing localization tools that can drive additional sales from international customers and improve customer service.
With DCC, merchants continue to price their goods in United States dollars. After a MasterCard or Visa card issued in one of the supported foreign currencies is swiped on an Optimum terminal, the device will automatically display the transaction amount in both US Dollars and the customer’s currency. The customer can then select which currency he wants to use to complete the purchase, while the merchant still receives the settlement in US dollars. With DCC, cardholders have the comfort and convenience of knowing the cost of the purchase in their currency, enabling them to make more informed buying decisions.
Alternatively, with MCP, merchants quote or display pricing in foreign currencies. When the cardholder presents a MasterCard or Visa card at the time of check-out, the merchant will ask the customer for his or her currency preference, and then select the currency from a menu that appears on the terminal. The customer receives a transaction receipt listing the details of the purchase in the designated currency and the merchant receives funding in US dollars. MCP is a powerful sales and marketing tool for merchants with an international clientele -- and provides international customers with a superior shopping experience.
Planet Payment’s DCC and MCP services are delivered to merchants through a network of certified partner acquiring banks and processors. Through its arrangement with Hypercom, Planet Payment’s DCC and MCP services will be an available configuration integrated into the Hypercom SPOS 32 operating system on the T4100. This will allow additional acquirers and processors to offer DCC and MCP to their merchants as part of the standard Hypercom terminal application, without any need for additional development or certifications. Planet Payment and Hypercom expect to complete the integration to the SPOS operating system in April 2007.
“Hypercom has become a global leader in payment transaction technology by listening to the needs of our clients and their merchants,” said O.B. Rawls IV, Hypercom’s Senior Vice President of International Sales. “As more merchants look to attract international customers, we are seeing a corresponding increase in market demand for solutions such as DCC and MCP that allow international customers to enjoy the convenience of shopping in their home currencies. Now, with Planet Payment’s DCC and MCP service as an available configuration offering on our T4100, acquirers and processors can offer these valuable services to merchants simply, easily and without the need for separate terminal development or certifications.”
“Planet Payment’s integration into the SPOS 32 system and the T4100 is an important strategic step for our company – one that should lead to an expansion of our footprint in the United States,” said Philip D. Beck, Chief Executive Officer of Planet Payment. “The T4100 is a feature-rich terminal that is quickly setting the benchmark for dependability and reliability in the terminal market. As such, we that feel that our ability to offer our DCC and MCP solutions as standard applications in such a powerful and widely-used device is a clear competitive advantage for our company.”
About Hypercom Corporation (www.hypercom.com)
Global payment technology leader Hypercom Corporation (NYSE: HYC) delivers a full suite of high security, end-to-end electronic payment products and services. The company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, healthcare, prepaid, unattended and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits.
About Planet Payment (www.planetpayment.com)
Planet Payment is the trade name for Planet Group, Inc. [LSE: AIM: PPTR and PPT for Reg S and unrestricted common shares respectively].
Planet Payment is a multi-currency payment and data processor, enabling processors, acquiring banks and their merchants to accept, process and reconcile credit card transactions in multiple currencies, allowing cardholders to view prices and settle transactions in their native currency. Planet Payment’s systems also enable it to provide enhanced data reporting and data management to merchants who are using multiple systems in different countries.
The Planet Payment business was established in 1999. Planet Payment is headquartered in New York and has offices in Atlanta, the United Kingdom, Singapore, Hong Kong, Shanghai and Beijing.
# # #
Hypercom and Optimum and Design are registered 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. This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding market acceptance of new products, product performance, product sales, revenues and profits. These forward-looking statements are based on management’s current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward-looking statements include, industry, competitive and technological changes; the loss of, and failure to replace any significant customers; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and services; the performance of suppliers and subcontractors; risks associated with international operations and foreign currency fluctuations; the state of the U.S. and global economies in general and other risks detailed in our filings with the Securities and Exchange Commission , including the Company's most recent 10-K and subsequent 10-Qs. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. HYCP
Forward-Looking Statements. Information contained in this announcement may include ‘forward-looking statements’. All statements other than statements of historical facts included herein, including, without limitation, those regarding Planet Payment’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Planet Payment’s business) are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Planet Payment’s present and future business strategies and the environment in which Planet Payment expects to operate in future, which assumptions may or may not be fulfilled in practice. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the risk that implementation, adoption and offering of the service by merchants may take longer than anticipated, or may not occur at all. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Planet Payment expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.
Media contacts:
Joel Mayer Pete Schuddekopf
Director, Corporate Development, Planet Payment Hypercom Corporation
Tel: +1.516.670.3200 Tel: 602.504.5383
Fax: +1.516.670.3520 pschuddekopf@hypercom.com
jmayer@planetpayment.com
Emma Kane Tony Keller
Redleaf Communications Ltd. (for Planet Payment) S&SPR (for Hypercom)
Tel: +44 (0) 207 822 0200 Tel: 719.634.8279
Fax: +44 (0) 207822 0201 tkeller@sspr.com
ek@redleafpr.com
|