STRATEGIC PARTNERS
December 26, 2001
MEMPHIS, Tenn. -- Concord EFS, Inc. (Nasdaq:CEFT), which signaled a desire to become the nation's dominant force in PIN-based debit transactions with its February acquisition of the STAR network, wants to make Hypercom Corporation's (NYSE:HYC) ICE 5700 card payment terminal the star of its debit program.
Concord's national sales force will promote the new terminals, which will be called the STAR Universal Terminal. The ICE 5700-based terminals will be red, the color of the STAR brand. They are designed to promote PIN-secured debit transactions by displaying the STAR logo above the terminal's keypad, and by automatically prompting the consumer for entry of a PIN when a debit card is used for payment.
The terminal provides electronic signature and receipt capture, which saves an image of the cardholder's receipt in an electronic format at the time of the transaction to simplify the storage and research process for disputed purchases. Concord is also using this feature to facilitate the sales process by capturing the merchant's signature at the time of the sale and transmitting the signed contract to its main sales office so that account set-up is immediate.
The STAR network is the nation's leading PIN-secured debit network with approximately 800,000 locations across the U.S.
