VeriFone Holdings, Inc. has announced a ground-breaking initiative to transition customers of Hypercom Corp. 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, the company said.
"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, the company said.
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