Suncorp, Hypercom and Live TaxiEpay Strengthen Position in the Taxi Vertical
Last Update: 6/8/2010 9:28:00 AM
Suncorp, Hypercom and Live TaxiEpay Strengthen Position in the Taxi Vertical
Innovators Deploying 3,500+ Hypercom Optimum M4230 Systems in Sydney and Melbourne
MELBOURNE, Australia & SCOTTSDALE, Ariz., Jun 08, 2010 (BUSINESS WIRE) -- Hypercom Corporation (HYC) today announced that Suncorp and Live TaxiEpay will supply Hypercom Optimum M4230 mobile payment terminals to more than 3,500 taxis transporting over 110,000 customers per day. The rollout is already under way in Sydney and Melbourne and is expected to be completed within the next six to 12 months.
"Our Live TaxiEpay system with Hypercom is one of the leading taxi payments solutions that allow taxi operators and drivers to get paid more frequently and directly for their work and gain a percentage of the card transaction service fee, improving industry cash flow. Live TaxiEpay also allows drivers and operators to receive cash for their transactions or have funds directed straight to their bank account. This innovative and compelling value proposition has created strong and growing demand from drivers across the country," said Tom Varga, CEO, the Live Group.
Unlike competitor systems, the Live TaxiEpay solution also gives taxi operators and drivers the ability to cash in their vouchers at exchange centers such as service stations, without being charged a commission. Drivers can also relax at Live Group's dedicated driver lounges where free coffee, free internet and Foxtel is available.
"We bring the widest array of payment solutions to the market backed by the industry's strongest security, and we do it with leading financial institutions like Suncorp and innovators like Live TaxiEpay," said Jacques-Herve Maupin, Managing Director, Hypercom Asia Pacific. "With this rollout, we bring more choice to the market and strengthen our footprint in the region and in the transportation sector."
Hypercom's high-performance, PCI-PED-approved M4230 features long-range GPRS with dial back-up, the industry's top security certification, 32-bit multi-application processing for maximum transaction speed and 24MB memory that is two to three times larger than similar products to accommodate value-added applications.
About the Live Group
The Live Group is a transaction processing business currently specifically servicing Australian taxi drivers/operators and corporate customers.
Live TaxiEpay is a wholly owned subsidiary of the Live Group specifically involved in supplying EFTPOS terminals and additional value-added services to the Australian taxi industry. Live TaxiEpay was developed through the merger of TaxiEpay and Live Payments in November 2008. Live Group's other subsidiary, Live Payments, provides a unique corporate taxi payments solution and online reconciliation portal that assists corporate users in tracking their taxi expenditure. Live Payments can deliver significant time and cost savings to the corporate user.
About Hypercom
Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions 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, self-service 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.
Hypercom is a registered 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.
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 capability and performance, product competitiveness, product sales, revenues, profits and market share. 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; compliance with industry standards, certifications and government regulations; the performance of distributors, suppliers, contract manufacturers 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 and 8-Ks. 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
SOURCE: Hypercom Corporation
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