European payments processor Euroconex has signed a $4 million contract for the supply of US-based Hypercom Corporation's ICE 5500 smart card payment terminals and HFT 106 PIN pads which it will roll out to merchant clients in the Republic of Ireland.
EuroConex, which is the European arm of US Bancorp subsidiary Nova Information Systems, will replace existing magnetic stripe card systems with the Hypercom terminals in readiness for the roll out of chip and PIN technology in Ireland.
Erica McKinney, product development manager, euroConex, says "Having the first live chip and PIN transaction in Ireland going through the euroConex network is a milestone, and we look forward to rolling out the Chip & PIN capability nationally in the months ahead."
Hypercom says its ICE terminals meet the latest security requirements for PIN-based transactions, including PED, 3DES, EMV and specific local security requirements. In addition to EMV smart card functions, the system supports on-screen advertising, interactive electronic coupons and electronic top-ups.
The vendor says the HFT 106 PIN pad can be attached to card payment terminals and also provides a cost-effective upgrade path for currently installed magnetic stripe card payment systems.