STS Announces Selection of Hypercom's Optimum Technology by Iraq's SFS Aman
Share:
Financial services provider to install high-security payment devices in retail outlets across country
December 03, 2006
STS, a leading regional integrated IT solutions provider, has announced that SFS Amman, the leading financial services company in Iraq, has selected and will install Hypercom's T2100 countertop card payment terminals and associated networking products at hundreds of retail locations throughout Iraq's 18 states.
SFS Amman selected Hypercom's 32-bit Optimum T2100 hand-over countertop terminal because of its compliance with EMV high security smart card standards, its ability to perform both smart card and loyalty card functions quickly and simultaneously at the point-of-sale (POS), and Hypercom's ability to provide an end-to-end solution, including a customised transaction communications network with associated management software.
"We are using Hypercom's card payment terminals, software, networking technology and transaction communications capabilities to put in place the country's first point-of-sale network. We fully anticipate signing up several thousand merchant locations as we move forward, and the potential for growth is significant," said Kenny Zair, Chairman of SFS Amman.
"The installation of the first point-of-sale network in Iraq is a positive step for the electronic payment industry, for Iraq's merchants and the country's 27 million residents, and we are pleased that our partner Hypercom's products have been selected above all others," said Aiman Mazahreh, President, STS.
"Hypercom's products have received more EMV approvals than any other electronic payment device provider, and that gives us a strong competitive advantage," said O.B. Rawls IV, Senior Vice President, International Sales, Hypercom Corporation. "SFS Amman's selection of our high-security Optimum products strengthens our presence in the EMEA region."
Hypercom maintains a network of over 36 distributors and integration partners throughout Europe, the Middle East and Africa (EMEA), in addition to nearly a dozen service locations, as well as R&D centres in Scotland, Sweden, Russia and Latvia, with ongoing software development to meet the multi-application requirements of EMEA customers.
The Optimum T2100 is a high-speed 32-bit EMV 4.0 and VISA PED-certified device with an integrated EMV-compliant smart card reader, built-in printer, large memory to accommodate multiple applications, support for multiple languages and currencies, hand-over countertop design and graphical interface that guides customers through transactions with clear prompts.
About Security Financial Services
Security Financial Services (SFS) AMAN was the first company to be been granted a license by the Central Bank of Iraq to sell financial services in Iraq. The company was established in 2003 and has launched several services and products at twelve of its own locations and at more than 320 merchant and government locations across Iraq. Financial services offered include POS Terminals, Credit Cards Issuing, ATMs, Money Transfer, Check Cashing, Money Orders, Bill Payments, Foreign Exchange and others.
About STS
STS is the master distributor and regional partner for Hypercom products in the MENA region and a leading provider of Electronic Fund Transfer and IT solutions in the region. Since establishment in 1989, STS has contributed significantly to the growth and development of the IT sector in MENA. STS's diversified IT activities, partnerships with industry leading companies in addition to more than 400 qualified and highly skilled employees, has enabled STS to stand firm among the best providers of IT turnkey solutions to government, banking, education and telecommunication sectors. STS's has regional offices in several Middle East and gulf countries including Dubai, Amman, to better serve its regional customers which include more than 28 banks in the region.
About Hypercom
Global payment technology leader Hypercom Corporation (NYSE: HYC) 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, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, healthcare, prepaid, unattended and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits.
