Industrial and Commercial Bank of China (ICBC) has selected Hypercom as its preferred provider for card payment terminals and technology for the second year in a row. ICBC plans to roll out the terminals to merchants in China.
The Hypercom payment devices will help ICBC bring the "convenience of electronic payments to the point-of-sale together with value-added, revenue-generating features," according to Zhou Yi, general manager of IT, ICBC. "We have again selected Hypercom as our preferred provider and we have selected the ICE 'Plus' card payment terminals as the terminals of choice."
Industrial and Commercial Bank of China is the seventh-largest bank in the world in terms of tier-one capital and is listed at number 213 on the Fortune Global 500. Based in Beijing, ICBC maintains more than 30,000 branches in China and serves more than 420 million industrial, commercial and individual customers.
Within the last several months, China UnionPay also selected Hypercom to allow cross-city and cross-bank transactions in 40 cities and, by 2005, to enable more than 400 million bank cardholders in 100 cities to use their cards at any payment terminal in China.
Hypercom has created and installed customized networks for the Taiwan Lottery, the Western Canada Lottery Corp., and Fubon Bank, one of Asia's leading financial conglomerates.
Hypercom's HyperWare environment allows software developers to quickly create or customize value-added, revenue-generating applications using Microsoft's Visual Studio platform. Merchants can then use those applications to offer new products and services in an array of markets not traditionally associated with card payment terminals.
The touch screen-based terminals, ICE 5500Plus and ICE 5700Plus, incorporate Hypercom's new SureLoad Clamshell printing technology, which operates at twice the speed of traditional point-of-sale printers and offers drop-in paper loading with virtually jam-free operations. The ICE terminals also incorporate physical security features and Hypercom's HyperSafe operating system. In addition to the embedded HyperSmart payment application, the terminals feature electronic signature and receipt capture, on-screen advertising, customer-pole display, interactive electronic coupons, secure credit, debit, EBT and EMV smart card functions.