Commits to Multimillion-Dollar Software Investment
San Jose, CA - March 19, 2007 - Verifone Holdings, Inc. (NYSE: PAY) today announced a ground breaking initiative to transition customers of Hypercom Corp. (NYSE: HYC) worldwide to Verifone's Vx Solutions and NURIT product families. Through the end of July, Verifone is committing a multimillion-dollar software investment to fund conversion of all currently operational Hypercom customer applications and network interfaces to Verifone platforms. There will be no fees to any current Hypercom customer for this development.
Douglas G. Bergeron, Verifone chairman and CEO, said, "During the past several weeks we have been in contact with many Hypercom customers who are concerned about the company's future and speculation about a possible sale. Many of Hypercom's existing products are not PCI-compliant and cannot be sold after the end of this calendar year. Hypercom's newer products that are PCI-compliant remain largely unproven and lack bank certifications in many geographies.
"Our goal is to offer a cost-free, risk-free conversion to Verifone's product portfolio. Verifone has PCI-compliant products, fully certified for every market need in nearly all countries worldwide." Bergeron added.
This program is valid through the end of July, 2007.
About Verifone Holdings, Inc.
Verifone Holdings, Inc. (“Verifone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. Verifone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. Verifone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.