Hypercom Corporation (NYSE: HYC) announced today that Visa in Russia is now offering Hypercoms Optimum T2100 card payment terminal to banks and retailers throughout Russia and the Commonwealth of Independent States. The decision reflects the rapid growth of electronic payments in Russia and the earlier selection of the T2100 for the Visa Smart Breakthrough Acceptance Device Program, established to promote the use of point-of-sale devices that comply with the global EMV standard for chip-based debit and credit cards.
So far 22 banks in Russia are issuing Visa smart cards. As part of Visas campaign to encourage more banks to follow suit, the deadline of the January 2006 liability shift plays a significant role, said Oleg Makhotin, Chip Payment Solutions Manager, Visa International CEMEA (Central Europe, Middle East and Africa). Hypercoms Optimum T2100 offering brings a cost-effective, EMV compliant POS terminal to member financial institutions months ahead of the deadline.
The T2100 is a high-performance, easy-to-use, hand-over countertop unit that can handle debit and credit transactions as well as gift and/or loyalty cards and other value-added capabilities. Key features that led Visa in Russia to select the T2100 include:
High-speed transactions based on a 32-bit RISC processor with 12 megabytes of memory.
Integrated printer with drop-in loading and speeds of 15 lines per second (lps including graphics, faster than the standard 12.5 lps without graphics.
High-contrast graphic LCD screen and large color-coded keypad with clear user prompts for fast data entry/key strokes.
Dial, Ethernet and GPRS communications options to speed installation and ease migration.
Stringent security achieving EMV 4.0 and Visa PED certification with Triple DES and RSA cryptographic support and secure casing to deliver the tightest security and durability.
The T2100 software development kit (SDK) is compatible with local Host systems like CTL, Compass+, BPC, Tieto Enator, Openway and ACI. The unit also provides both V.90 and Ethernet support, with the full networking infrastructure and interface to existing electronic cash register systems.
Visa CEMEAs selection and rollout of our Optimum terminal in the Russian market gives us an excellent opportunity to secure solid market share as the adoption of electronic payments throughout the country continues to rise, said Martin Croot, general manager, Hypercom EMEA. This is a strong endorsement of our product design and an important step in the continuing evolution to the EMV standard.
Since the introduction of the Visa Smart Breakthrough Acceptance Device Program, the migration of electronic point-of-sale terminals to the EMV standard has surged from 750,000 at the inception of the program in 2002 to more than two million in 2004.
EMV is the standard created by Europay, MasterCard and VISA International to ensure that all Europay, MasterCard, and VISA branded smart cards and all smart card reading terminals work together to deliver global interoperability and enhanced security.