21.05.2008 13:30:00
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Open Solutions Canada Selects Hypercom's HBNet for One of Canada's Largest Off-Premise ATM and POS Networks
Open Solutions Inc.® and Hypercom Corporation
(NYSE: HYC) today announced HBNet, Inc., a Hypercom®
subsidiary, will provide high-speed transaction transport services for
Open Solutions Canada, the Canadian subsidiary of Open Solutions, which
operates one of Canada’s largest off-premise
ATM and point-of-sale networks. Open Solutions is a leading provider of
integrated enabling technologies for financial service providers across
the United States, Canada and internationally.
"HBNet brings us the exact specifications we
need in terms of stability and security that would be impossible to
replicate internally,” says Rob Palin, general
manager of the Payment Solutions Group at Open Solutions Canada. "We
believe HBNet is the fastest and most reliable network and that it will
make our payment processing in Canada even more competitive.”
The use of HBNet will enhance Open Solutions Canada’s
ability to smoothly and securely process millions of ATM and POS
transactions each month to financial institutions. HBNet’s
unparalleled performance is achieved through multiple network and
equipment redundancies that guarantee the seamless routing of all
transactions. HBNet also provides the industry’s
highest level of security for dial and Internet transaction processing.
"Open Solutions Canada is a premiere Canadian
account and one that validates HBNet’s
offering of performance, price, service and know-how,”
says Connie Festa, HBNet Vice President Network Services at Hypercom.
Hypercom’s HBNet network speeds the
authorization and processing of electronic transactions for retail
point-of-sale, financial, government, health care and other customers in
both the dial and IP POS markets.
HBNet is powered by robust, ultra high-density MegaNAC®
180 Network Access Controllers (NACs) strategically positioned within
the North American Public Switching Telephone Network (PSTN) and at
processor data centers. It supports all POS terminal protocols at any
modem speed up to V.92 and provides uninterrupted service with no single
point of failure, seamless load balancing, state-of-the-art Web-based
reporting, and simple all-inclusive pricing.
About Open Solutions Canada (www.opensolutions.com)
Open Solutions Canada designs, builds, integrates and operates advanced
banking and payment technologies for financial institutions, retailers,
independent sales organizations (ISOs), third-party organizations and
processing centers worldwide. Open Solutions Canada’s
Payment Solutions Group supports and markets state-of-the-art,
industry-standard payment transaction processing solutions
internationally. The Payment Solutions Group operates one of the largest
ATM and POS payment switches in Canada. In addition, it directly
supports more than 30 Canadian financial institutions through a network
providing shared cash transaction processing, ATM monitoring and 24/7
support.
About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic information
management product platform that integrates core data processing
applications built on a single centralized Oracle relational database,
with Internet banking, cash management, CRM/business intelligence,
financial accounting and management tools, profitability tools, wealth
management, imaging, digital documents, interactive voice response,
network services, HSAs, payments and loan origination solutions. Open
Solutions’ full suite of products and
services allows banks, thrifts, credit unions and financial services
providers in the United States, Canada and internationally to better
compete in today’s aggressive financial
services marketplace, and expand and tap their trusted financial
relationships, client affinity, community presence and personalized
service.
For more information about Open Solutions or its financial product line,
contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com
or by phone at 860-652-3153 or via fax at 860-652-3156. Visit Open
Solutions’ Internet site at www.opensolutions.com.
Open Solutions Inc. is a registered trademark of Open Solutions Inc. All
other company and product names may be trademarks of their respective
owners. Copyright 2008 Open Solutions Inc. All rights reserved.
About Hypercom (www.hypercom.com)
Global payment technology leader Hypercom Corporation 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, processors,
large-scale retailers, smaller merchants, quick-service restaurants, and
users in the transportation, petroleum, healthcare, prepaid, unattended
and many other markets. Hypercom solutions enable businesses in more
than 100 countries to securely expand their revenues and profits. With
its acquisition of Thales e-Transactions business last month, Hypercom
became the second-largest provider of electronic payment solutions and
services in Western Europe, and solidified its position as the
third-largest provider globally.
The correct usage of the company name, Open Solutions Inc., is either
referring to it as Open Solutions Inc. or Open Solutions. Open Solutions
no longer uses the acronym of OSI to refer to the company.
Hypercom, HBNet and MegaNAC are registered trademarks of Hypercom
Corporation. All other products or services mentioned in this document
are trademarks, service marks, registered trademarks or registered
service marks of their respective owners. This press release includes
statements that may constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding market acceptance of new products and
services, capability, security, competitiveness and performance of
products and services, the Company’s
financial results, market share, and expected acquisition results and
benefits. These forward-looking statements are based on management’s
current expectations and beliefs and are subject to risks and
uncertainties that could cause actual results to differ materially from
those described in the forward-looking statements. In particular,
factors that could cause actual results to differ materially from those
in forward-looking statements include: industry, competitive and
technological changes; the loss of, and failure to replace any
significant customers; the composition, timing and size of orders from
and shipments to major customers; inventory obsolescence; market
acceptance of new products and services; the performance and security of
the Company’s products and services;
compliance with industry standards, certifications and government
regulations; the performance of suppliers, contract manufacturers and
subcontractors; the ability to successfully integrate the technologies,
operations and personnel of acquired businesses in a timely manner; the
ability to obtain the expected strategic and financial benefits from
acquisitions; risks associated with international operations and foreign
currency fluctuations, the state of the U.S. and global economies in
general and other risks detailed in our filings with the Securities and
Exchange Commission, including the Company's most recent 10-K and
subsequent 10-Qs and 8-Ks. Forward-looking statements speak only as of
the date made and are not guarantees of future performance. We undertake
no obligation to publicly update or revise any forward-looking
statements. HYCP
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