Tuesday, November 10, 2009

Fraud Costs U.S. Retailers $191 Billion Each Year - Headline Story





LexisNexis True Cost of Fraud Study (PDF) Reveals that Retail Merchants Experience 20 Times Higher Total Fraud Losses than Consumers







NEW YORK--PPNB-- U.S. merchants are incurring $191 billion in fraud losses each year, according to a new report released today by LexisNexis® Risk Solutions.

Among the findings, the 2009 LexisNexis® True Cost of Fraud Benchmark Study discovered that merchants must absorb nearly 10 times the identity fraud cost incurred by financial institutions.

Retail merchants experience a massive $100 billion in losses solely attributed to identity fraud, which escalates to $191 billion when factoring in the additional cost of lost and stolen merchandise. The study also found that merchant fraud losses amounted to more than 20 times the total value of consumer fraud victim losses which totaled approximately $4.8 billion in 2008.



Developed in conjunction with Javelin Strategy & Research, the study examines how U.S. retail fraud affects merchants, financial institutions and consumers. The full study is available on the LexisNexis® Risk Solutions Web site at: www.risk.lexisnexis.com.



“The impact of retail fraud is multifaceted and far-reaching, as this crime claims multiple victims,” said Dennis Becker, LexisNexis Risk Solutions vice president, corporate markets.

“We are seeing significant increases in identity fraud overall as well as increases in typical fraud categories such as chargebacks,” said Becker. “With the economic downturn and increasing sophistication in criminal fraud methods, it is crucial that merchants and financial institutions work together to mitigate fraud.”







According to the study, retail merchants are absorbing the vast majority of the costs associated with fraud. Among the numerous fraud types affecting merchants, identity fraud or fraudulent transactions made up the bulk of fraud from a cost standpoint, representing 52 percent of total fraud losses. In addition, certain merchant segments revealed a higher prevalence of fraudulent transactions such as large eCommerce retailers, of which 40 percent saw an upsurge. Digital goods merchants attributed 54 percent of their fraud loss to unauthorized purchases, while merchants in telecom, social networking industries and online gaming reported 64 percent to 67 percent of their total annual fraud loss as the result of identity fraud.



The report also found that:

  • One in five merchants experienced an increase in unauthorized transactions associated with identity fraud;




  • Credit card crimes continued to rise sharply, but alternative payments (i.e. online and mobile payments) represented a troubling new source of losses for large merchants;




  • Friendly fraud—where a consumer makes an online purchase with their credit card, then issues a chargeback after receiving the purchase, claiming the purchase was never delivered—accounted for more than one-third of the total fraud for online-accepting merchants;

  • Merchants showed low satisfaction for fraud technology solutions; and

  • Retail merchants sought more education and improved industry standards as they battled the cost of fraud.

“By taking a careful assessment of current fraud prevention tools and technologies and seeking out more education and information, merchants can help to mitigate and detect fraudulent transactions,” said James Van Dyke, president of Javelin Strategy & Research.



In early 2009, LexisNexis Risk Solutions retained Javelin Strategy & Research to deploy a comprehensive quantitative study on the effects of retail fraud. A 29-question online survey was sent to a retail merchant panel comprising 1,009 risk and fraud decision-makers and influencers. The merchant panel includes individuals from companies of all sizes, industry segments, channels and payment methods. The study also draws on identity fraud victim data from a telephone interview survey of more than 4,800 U.S. adults including 487 fraud victims representative of the U.S. population. The Merchant Risk Council (MRC) also provided input and comment on the study prior to its release.



“The MRC is working with a wide variety of multi-channel and e-Commerce merchants with the stated mission of mitigating losses stemming from card-not-present fraud,” said Tom Donlea, MRC Executive Director. “Research programs such as this are valuable to the merchant community looking to benchmark their verification and authentication processes and fraud prevention tools that thwart such nefarious activity.”

About Javelin Strategy & Research


Javelin provides superior direction on key facts and forces that materially determine the success of customer-facing financial services, payments and security initiatives. Our advantages are rigorous process, independent position, and expert people. For more information about this or other Javelin reports, please visit www.javelinstrategy.com/research or contact Elizabeth Travers at (925) 225-9100 ext. 31 or etravers@javelinstrategy.com.



About LexisNexis


LexisNexis® (www.lexisnexis.com) is a leading global provider of content-enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in more than 100 countries with 18,000 employees worldwide.



About LexisNexis Risk Solutions


LexisNexis® Risk Solutions is the leader in providing essential information that helps advance industry and society. Building on the legacy of proven LexisNexis® services from the past 30 years, our cutting-edge technology, unique data and advanced scoring analytics provide total solutions that address evolving client needs in the risk sector while upholding high standards of security and privacy. LexisNexis Risk Solutions serves commercial organizations and government agencies and is comprised of several affiliated corporations, each offering premier customer-focused solutions. For more information, visit risk.lexisnexis.com.

MasterCard: Differentiation: Priceless!











Source: Marketing Magazine UK



LONDON - MasterCard will move away from its brand-led marketing strategy in an attempt to better communicate its range of products and services.





MasterCard's group general manager UK and Ireland, Hany Fam, is leading a three-year reorganization that will involve the brand launching a range of as-yet undisclosed products and services for cardholders.



The aim of the program, which launches in January, will be for MasterCard to differentiate itself from rivals such as Visa and American Express.





Fam is concerned that while the MasterCard brand is universally recognized, the company has been less successful in communicating its services.



From next year, the company will, through its long-running 'Priceless' campaign, bring the brand closer to its product portfolio. It will run a series of campaigns focusing on the new services.



The work will be overseen by incumbent agency McCann Erickson.



MasterCard is understood to be keen to expand its presence into several business areas, including retail.



To help promote this positioning as a general payments brand, it will stop using the terms 'debit' and 'credit' in its communications, even when referring to specific products.



Earlier this year, MasterCard partnered with the Eden Project for The Big Lunch, which encouraged people to have lunch with their neighbours on 19 July.



Rival brand Visa is to focus its marketing activity on its sponsorship of the next year's football World Cup in South Africa and the 2012 Olympics, while Barclaycard is pushing its contactless payment technology.



Meanwhile, American Express recently launched its first global campaign since 2006. The ads attempt to target the brand at consumers previously not attracted to the brand.



Earlier this year, MasterCard called a review of its global business-to-business advertising account. It currently employs roster agencies on a project basis.

Online Banking Attacks Continue

In an intelligence note, FBI officials say a mix of banking Trojans and phishing attacks has plagued victims - mainly public institutions and small and midsize businesses - to the tune of $100 million in attempted losses as of October.



Malware and phishing schemes targeting online bankers have spurred a jump in Automated Clearing House (ACH) fraud that has led to $100 million in attempted losses as of October, according to the FBI.




Continue Reading at eWeek



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Mazooma Integrates with pcRUSH Inc. to Provide Debit Channel to U.S. Customers








Mazooma Integrates with pcRUSH Inc. to Provide Debit Channel to U.S. Customers
Debit-based Payment Option offers Real-time Transactions to U.S. Online Consumers


MIAMI – November 9, 2009 – Mazooma, the first real-time online debit payment solution for U.S. consumers, today announced that pcRUSH Inc. has signed an agreement to integrate the Mazooma solution on its website, PcRUSH.com. pcRUSH, one of the largest on-line electronics retailers in the United States, will now be able to provide a real time, bank authenticated debit payment solution for its U.S. consumers, allowing those customers to easily and securely pay for their purchases with cash online.



pcRUSH offers a wide range of products- over 100,000, from hundreds of merchants. The company's mission is to provide the latest products at the lowest prices with service excellence for the global computer marketplace. They are quickly becoming the leading computer superstore on the Internet. By integrating Mazooma into its checkout page, pcRUSH's customers will be able to use their online checking accounts to make secure, immediate payments for goods and services.



"We are very pleased to provide to our customers a way to make purchases from PcRUSH.com directly from their banks, in real-time, without the need for credit cards," said Fred Bokhoor, CEO for pcRUSH. "PcRUSH.com maintains a 5-star customer service and satisfaction rating and our web site has been ranked among the Internet Retailer's "Top 30 Online Retailers". Mazooma provides a way to give our customers a trusted, secure and bank authenticated debit-based option when purchasing products and services for their home or business technology related needs."



Mazooma enables consumers to pay merchants directly from their online banking as part of the checkout process. This allows merchants to extend their services to customers who want to make purchases without using credit. Additionally, merchants receive instant authorization, which allows them to ship orders immediately and increases customer satisfaction and loyalty. Currently, Mazooma supports 75 percent of all consumer bank accounts in the U.S. and has no jurisdictional limitations.



"pcRUSH is a well known and trusted name for quality and service," said Paul Phillipson, Managing Director USA at Mazooma. "Mazooma will allow pcRUSH to expand its payments options to their customers, and stay ahead of the curve by including a simple debit-based option for consumers who prefer to pay with cash."





About Mazooma



Mazooma was founded to provide consumers and merchants with a safe, secure and convenient bank account payment channel for online shopping. The eCommerce industry has long recognized that current online payment systems do not provide a platform to service the millions of consumers who can't or won't use a credit card online. To serve this market, Mazooma developed a system that combines the security and comfort of online banking with the convenience and speed of a simple payment checkout process. Mazooma provides consumers with an instant and safe way to pay for online purchases directly from their bank accounts - authorized through the financial institutions they know and trust. Mazooma provides online merchants with a new way to reach customers and increase revenue, all while reducing their costs of payment processing. For more information, visit www.mazooma.com.





About pcRUSH



pcRUSH.com was established in 1998 as an online retailer to provide a full spectrum of products to corporate and consumer users. pcRUSH.com is owned by ATMAN Inc. pcRUSH.com carries over 100,000 products from manufacturers such as HP, Cisco, Canon, Microsoft and hundreds more. We offer a complete selection of business and consumer products: Printers, Laptop and Desktop computers, Switches and Routers, Scanners, Projectors, LCD TV & Monitors and so much more. pcRUSH's technology division Nextierra is an integrator of technology solutions for voice, data networking, security, video conferencing and print and document management. pcRUSH.com maintains a 5 star customer service and satisfaction rating. The company's web site has been ranked among the Internet retailer's "Top 30 Online Retailers."

MasterCard Among Those Exhibiting at Cartes & IDentification 2009





CARTES & IDentification 2009 Exhibitor Profiles

CARTES & IDentification 2009

PARIS--(BUSINESS WIRE)--CARTES & IDentification 2009 takes place 17 – 19 November 2009 at the Paris-Nord Villepinte Exhibition Centre.



Business Wire
is the official news wire for CARTES & IDentification. Breaking news releases, advisories, photos, and multimedia are available at Tradeshownews.com, Business Wire's trade show, conference, and event news resource.





Listed below are CARTES & IDentification exhibitor profiles.

































































































































































Company:

 

COMPRION

Stand:



4N017

Media Contact:



Kathleen Loeser

Phone:



49-5251-699-860

E-mail:



info@comprion.com

Web:



www.comprion.com





 

COMPRION invents, manufactures and sells devices for the testing of Smart Cards, Smart Card interfaces and terminals for both the contact based and contactless world. As the leading provider of test equipment for GSM/3G handset conformance testing, COMPRION works with all top terminal and Smart Card manufacturers, chipset vendors, network operators and test laboratories. COMPRION’s trace and simulation tools are capable of ISO/IEC 7816, SWP/HCI, IC-USB and NFC. As a dynamic and results-oriented company, COMPRION works in very close collaboration with standardisation bodies (e.g. 3GPP, ETSI, NFC Forum) and key players in the market.





 





 

Company:



Dai Nippon Printing Co., Ltd (DNP)

Stand:



4L 028

Ticker Symbol & Exchange:



TOKYO: 7912

Media Contact:



Hiroaki Kabamoto, General Manager

Phone:



81-3-3513-2707

E-mail:



Hiroaki-kabamoto@mail.dnp.co.jp

Web:



http://www.dnp.co.jp/index_e.html





 

DNP is one of the world's largest comprehensive printing companies. It provides diverse products and services in wide range of fields to about 30,000 clients.

 

DNP has spent 28 years in the research and development of smartcards and is the No. 1 smartcard company in Japan, providing a side array of digital security services including card manufacturing, card OS development (MULTOS™, JavaCard™ and UIM), smart card applications, data management systems, card issuing and development of peripheral technology.

 

DNP will show the following products at Cartes 2009.

 

-NFC reader/writer module, - Display card

-Hologram security products, - Re-transfer Card Printer

-Biometrics authentication, - Re-writable cards

-Mini Tag, - SSFC (Shared Security Formats Cooperation)

-Body Area Network (Electric Field Communication)





 





 

Company:



Datacard Group

Stand:



3F 041

Media Contact:



Joanne Monro

Phone:



44 (0) 1489 555657

E-mail:



Joanne_Monro@datacard.com

Web:



www.datacard.com





 

Datacard Group is a driving force in virtually every major card program around the world. Our secure ID and card personalization solutions are used to issue millions of financial cards and identification documents each day.





 

We continue to make cards, identification documents and personalized mailings more powerful by capitalizing on smart cards, biometrics, laser engraving and other advanced technologies. Corporations, governments and other security-minded organizations have made Datacard® the world's most popular brand of secure ID solutions.





 





 

Company:



Digital Identification Solutions

Stand:



4 N 076

Media Contact:



Tanja Klopfer (Ms.)

Phone:



497113416890

E-mail:



klopfer@digital-identification.com

Web:



www.digital-identification.com





 

The Digital Identification Solutions Group is a global provider of advanced identification solutions with a worldwide installed base of more than 10,000 systems. In November 2008, the Group successfully introduced the latest EDIsecure® XID Retransfer Printer generation combined with highly secure laser engraving. The company has sales, marketing and support operations in Germany, the United Arab Emirates, Singapore, China, the United States and Mexico. Together with its vast network of certified partners, Digital Identification Solutions delivers state-of-the-art solutions globally. The company combines cutting-edge technology, extensive industry knowledge and an impressive array of references in the private and public sector.





 





 

Company:



Konica Minolta Business Technologies, Inc.

Stand:



4 L 028

Media Contact:



Ikuya TAKASHIMA

Phone:



81-3-6250-2430

Web:



http://www.konicaminolta.com/





 

Konica Minolta Business Technologies, Inc. exhibits a Digital Multi Function Device "bizhub" which has been implemented a NFC reader at CARTES 2009 and will strongly promote SSFC (Shared Security Formats Cooperation) brand in the world-wide market as a member of SSFC alliance which is led by Dai Nippon Printing. KonicaMinolta is very proud to offer the total office security solution which is able to control both physical and logical security risk by multiple policy level by using one "SSFC" format implemented into high security NFC card that is now available anywhere in the world. KonicaMinolta would improve the secure level in the office by supporting the aim of SSFC and lead the SSFC alliance.





 





 

Company:



MasterCard Worldwide

Stand:



3H018

Media Contact:



Corinne Raes

Phone:



32 498 585237

E-mail:



corinne_raes@mastercard.com

Web:



www.mastercard.com





 

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.





 





 

Company:



Mühlbauer Group

Stand:



4P028

Ticker Symbol & Exchange:



DE0006627201

Media Contact:



Wolfgang Wanner / Tilo Rosenberger

Phone:



499461 952-1618 or -1653

E-mail:



info@muehlbauer.de

Web:



www.muehlbauer.de





 

For more than 28 years the Mühlbauer Group is premium technology partner in the areas of plastic and chip card, passport/ePassport, RFID and highly secure ID applications. Our unique product portfolio from biometric data enrollment over production & personalization to border & access security affords us the position to be the preferred supplier for various industries, governments, security printers and system integrators. Precision down to the smallest detail, highest flexibility, absolute reliability and a full commitment are our plenary premises. We provide complete support to our clients in the selection, development, implementation and ongoing support of their individual solutions.





 





 

Company:



OKI Data Corporation

Stand:



4 L 028

Media Contact:



Sonomi Kitamura

Phone:



81-3-5445-6111

E-mail:



okiprintingsolutions-press@oki.com

Web:



http://www.okiprintingsolutions.com





 

OKI Data specializes in designing, developing, manufacturing and marketing business printing solutions. As a market leader in the global color printer market, OKI has representation in 120 countries worldwide offering innovative and leading edge products and services. It is one of the few printer manufacturers that designs and develops its own components and technology, putting OKI ahead of its competitors' technology. OKI is dedicated to continually improving the scope and value-add of their printing solutions and all of these initiatives are ably supported by our partners through their extensive skills and service.





 





 

Company:



On Track Innovations, Ltd (OTI)

Stand:



4 K 017

Ticker Symbol & Exchange:



NASDAQ GM: OTIV

Media Contact:



Galit Mendelson

Phone:



201-944-5200

E-mail:



galit@otiglobal.com

Web:



www.otiglobal.com





 

Established in 1990, OTI designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for electronic passports and IDs, payments market, petroleum payment systems, mass transit ticketing, parking and loyalty programs. OTI has a global network of regional offices to market and support its products.





 





 

Company:



Pittsburgh Embossing Services, Inc.

Stand:



Hall 3, Aisle D, 077

Phone:



724-222-5240

E-mail:



PES@PittsburghEmbossing.com

Web:



http://www.pittsburghembossing.com/





 

Visit the Pittsburgh Embossing Services booth at CARTES 2009 to learn more about how Pittsburgh Embossing Services can help you meet your card personalization production needs with fully refurbished, like new personalization equipment. Pittsburgh Embossing Services specializes in Datacard equipment but also deals with a variety of other product lines to meet your needs. Pittsburgh Embossing Services is also your source for competitively priced equipment parts and supplies. Pittsburgh Embossing Services, Inc. not only sells quality personalization equipment, but they are also looking to buy your used equipment that you no longer need.





 





 

Company:



Sagem Orga

Stand:



K001, Hall 4

Media Contact:



Mareike Blumentrath

Phone:



004952518891216

E-mail:



mareike.blumentrath@sagem-orga.com

Web:



www.sagem-orga.com





 

Sagem Orga is a global leader in the smart card industry. Its portfolio includes hardware, software, consulting and services, all focused on smart cards for the telecommunications, health, identification and banking sectors. As a subsidiary of Sagem Sécurité (Safran group), the world's No. 1 in identification, Sagem Orga offers comprehensive integrated solutions designed to secure the digital and mobile community. The company has a workforce of over 2,100 people around the world and production facilities incorporating the latest technology in Germany, Brazil, Russia, Mexico and India.





 





 

Company:



SCM Microsystems

Stand:



3H027

Ticker Symbol & Exchange:



NASDAQ:SCMM, Prime Standard:SMY

Media Contact:



Annika Oelsner

Phone:



49 89 9595-5220

E-mail:



aoelsner@scmmicro.com

Web:



www.scmmicro.com





 

SCM Microsystems is a global leader in security and identity solutions for secure access, secure identity and secure exchange. Together with its Hirsch Electronics subsidiary, SCM provides complete, integrated solutions that secure digital assets, electronic transactions and facilities. The company offers the world's broadest range of contact, contactless and mobile smart card reader technology; physical and logical access control systems; digital identity transaction platforms; biometrics; and digital video. SCM's solutions enable a wide variety of applications including enterprise security, identity management, contactless payment, e-health and electronic government services. For additional information, visit www.scmmicro.com and www.HirschElectronics.com.





 





 

Company:



SMARTRAC TECHNOLOGY GROUP

Stand:



4P072

Ticker Symbol & Exchange:



SM7

Media Contact:



Tanja Moehler

Head of Corp.Communication





Phone:



49 151 14 03 94 70

E-mail:



media.relations@smartrac-group.com

Web:



www.smartrac-group.com





 

SMARTRAC is the global leader in high-quality RFID inlays for ePassports, ePayment as well as for RFID transponders for public transportation applications and car immobilizers. The company produces ready-made as well as customized transponders for public transport, access control, animal identification, industry and logistics in all current frequency standards.





 

SMARTRAC was founded in 2000 and since going public in July 2006 has been trading as a stock corporation under Dutch law with its registered headquarters in Amsterdam. The company currently employs some 2.600 employees and maintains a global research and development, production and sales network.





 





 

Company:



Teslin Substrate from PPG Industries

Stand:



3D087

Ticker Symbol & Exchange:



PPG (NYSE)

Media Contact:



Brande Juart

Phone:



724 325 5203

E-mail:



juart@ppg.com

Web:



www.teslin.com





 

Used worldwide for over 10 years in billions of retail, healthcare, and security cards and key fobs, Teslin® substrate from PPG delivers unmatched durability, superior resistance to delamination, exceptional printing ease and quality, and the highest level of security. Inherently tamper-resistant and tamper-evident, Teslin substrate offers a key first line of defense in keeping critical credentials secure. The microporous substrate extends card and key tag IC read range, while cushioning and protecting chips during platen lamination, increasing throughput and yield. Supporting advanced authentication methods, a security-grade product with embedded covert and information-centric forensic security features is available directly from PPG Industries.





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First Data to Integrate Accertify’s Fraud Prevention Platform





New Offering to Deliver Online Merchants Complete Fraud Detection Capabilities



ATLANTA & CHICAGO - First Data, a global leader in electronic commerce and payment processing services, and Accertify, a leader in online fraud prevention, today announced an agreement to integrate Accertify’s fraud prevention platform with First Data’s eCommerce processing gateways and platforms.



The integration of Accertify’s Interceptas® platform will provide First Data with a comprehensive, end-to-end fraud deterrence solution. This solution will equip First Data’s customers with tools to help mitigate risk and reduce losses associated with fraud. The solution also eliminates the need for merchants to deploy separate payment and risk platforms. First Data will offer this combined solution to its 300,000 merchants around the world that sell goods or services over the Internet and in a card-not-present environment.



“The faceoff between fraudsters and merchants continues to escalate,” said Souheil Badran, First Data senior vice president and division manager for eCommerce. “Together with Accertify, we can leverage our knowledge and fraud prevention experience to equip our merchants with a cohesive solution to alleviate the risks associated with online payment acceptance. Merchants shouldn’t have to worry about implementing add-on tools. With this solution, merchants will now have the flexibility to obtain an integrated payment platform as part of a single, comprehensive service.”



“First Data is an ideal partner for Accertify,” said Jeff Liesendahl, CEO at Accertify®. “Its market leadership in eCommerce and knowledge of customers’ environments has already proven to be beneficial for our joint solution. Merchants that take advantage of the combined First Data eCommerce and Accertify platforms will have tools to help stop fraud more efficiently, without the need to develop their own solutions or significant supplements to other solutions they may have purchased.”



The agreement with Accertify, in conjunction with the tokenization and encryption solution developed by First Data and RSA, called the First Data® Secure Transaction ManagementSM service, dramatically redefines how merchants manage and protect their customer payment data.

About Accertify


Accertify Inc. is a leader in providing e-commerce companies with software, tools and strategies for preventing online fraud and mitigating enterprise-wide risks. Our Interceptas platform integrates every component of fraud prevention, applies state-of-the-art automation to each step in process and offers advanced capabilities for managing fraud data. Built with a merchant's perspective, Interceptas delivers unparalleled flexibility in preventing various types of criminal behavior, including fraud related to card-not-present purchases, online scams and policy abuse, merchandise returns and exchanges and other data management challenges. Accertify is committed to providing online companies with the most cost-effective solution to fraud available. For more information, visit www.accertify.com.



About First Data


First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit www.firstdata.com.



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Westpac Awards Hypercom $50 Million Contract



Westpac Banking Corporation Awards Hypercom Five Year Product and Services Supply Contract Valued at up to $50 Million

Selection Considerably Expands Hypercom Footprint



SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Hypercom Corporation (NYSE: HYC) today announced that Westpac Banking Corporation, one of Australia’s largest financial services organizations by market capitalization, has selected and will deploy thousands of Optimum T4200 countertop terminals to merchants throughout Australia. Under the terms of the five year agreement, Hypercom will also service Westpac’s entire installed base of more than 80,000 terminals. Hypercom was selected as Westpac’s supplier after a rigorous RFP process. The T4200 terminal roll out, one of the payment industry’s largest ever in the region, will commence in early 2010. The parties estimate that Westpac will purchase terminals and services valued at approximately $50 million from Hypercom over the five year initial term of the contract.



“Westpac Banking Corporation is highly respected for its leadership, performance, innovation and unwavering singular focus on its customers. Their decision to switch to Hypercom represents a huge market share gain for the company in Australia and New Zealand, considerably expands our footprint, and is a superb endorsement of our company and our products,” said Jacques-Herve Maupin, Managing Director, Hypercom Asia Pacific.



Hypercom’s Optimum countertop and mobile series has received PCI PED security approval, MasterCard Worldwide Payment Terminal Security approval for IP and wireless communication and EMV Level 1 & 2 certifications for chip card transactions. All models share the same platform, user interface and software toolkit to maximize efficiency, application portability and offer customers a broad range of options to serve any market need.



For additional information, please visit http://www.hypercom.com/products/.



About Westpac Banking Corporation
(www.westpac.com.au)

Westpac Banking Corporation is ranked in the top five listed companies by market capitalization on the Australia Securities Exchange Limited (ASX). Westpac is strategically focused on Australia, New Zealand and the near Pacific, maintains over 1,200 branches and serves about 10 million customers. Westpac merged with St. George Bank in 2008, Bank of Melbourne in 1997, Challenge Bank in 1995, and Trust Bank in New Zealand in 1996 and acquired Rothschild Australia Asset Management and parts of BT Financial Group in 2002.



About Hypercom (
www.hypercom.com)

Global payment technology leader Hypercom Corporation 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, petroleum, healthcare, prepaid, unattended and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.

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