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OTI and Hypercom Team-Up to Deliver Contactless card payment programs

Tuesday 13 April 2004 19:12 CET | News

On Track Innovations (OTI) has teamed up with Hypercom to deliver contactless electronic card payment programs that add convenience, speed check-out and increase security.

The companies combined technologies will help expand merchant and consumer use of contactless payment programs, such as MasterCard PayPass, at U.S. retail countertops. OTIs patented matched-antenna contactless technology coupled with Hypercoms industry-leading electronic payment terminals enable more reliable and secure communication. The solution also allows issuers to provide consumers with highly secure contactless cards and key fobs with smart stickers and custom designs, such as new specially equipped watches that feature transaction capabilities. Recognized globally as a payment technology innovator and leader, Hypercom. products include smart, fast and easy-use card payment terminals, networking equipment and technology. Hypercom will integrate OTIs contactless technology into their new RF-enabled terminals, and have already incorporated the capability to use OTIs newest contactless reader, the Saturn 5000, which offers a plug-and-play retro-fit option for merchants currently equipped with Hypercom terminals. Using MasterCard PayPass, consumers simply tap or wave their payment card on a specially equipped merchant terminal that then transmits payment details wirelessly, eliminating the need to swipe the card through a reader. The new solution is ideal for traditional cash-only environments where speed is essential, such as quick service restaurants, gas stations and movie theaters. Last year, MasterCard successfully completed market trials of MasterCard PayPass, which utilizes OTIs contactless card technology. Hypercoms integration of contactless technology-enabled terminals in the U.S. will be an important step in the successful expansion of the MasterCard PayPass program planned for later this year.


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Keywords: ,
Categories: Payments & Commerce | Cards
Countries: World
This article is part of category

Payments & Commerce