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May 9, 2002/FW/ -- Hypercom Corporation (NYSE: HYC), a leading provider of electronic payment
solutions, and Identico Systems, LLC, a pioneer in verifying consumer identity
to reduce the risk involved in face-to-face transactions, today introduced a
photo identification verification software solution, called True ID&re, for use on
Hypercom's high performance ICE™ 7000CE color touch
screen-based, Web-enabled card payment terminal.
Retailers that accept check payments, such as grocers, drug stores and mass
merchandisers, are one of the first markets for the system.
Identico's in-market
experience demonstrates the photo ID verification system can reduce an
organization's risk of accepting fraudulent checks by 80% on average, and can
increase the chances of restitution by 50% if fraud is attempted.
Here's how it works. When a customer presents a check, credit card or other
payment instrument to the merchant, their driver's license or other valid photo
ID card is scanned, encrypted and securely stored on the True ID system, along
with the payment information.
When the customer next presents a check or credit
card to a clerk for payment, the system instantaneously displays a photograph of
the customer on the ICE terminal, enabling the clerk to verify the identity of
the presenter.
"The cost of fraudulent checks last year alone could reach an estimated $10
billion, and merchants are looking for ways to fight back. Hypercom's ICE 7000CE
and Identico's True ID can help them do just that, with a simple, proven
solution," said O.B. Rawls IV, president, Hypercom North America.
"True ID is a win-win for retailers. Legitimate customers love the added
protection it gives their identity and sign up virtually 100% of the time.
Would-be crooks avoid it like the plague, so check fraud drops substantially for
an immediate return for the merchant," said Larry Gilbert, president and CEO of
Identico Systems. "If you think about it, it's obvious why it works. Why would
any criminal want their photo in an identity verification system? The short
answer is, they don't."
Other target markets for the ICE 7000CE with True ID photo ID are healthcare,
government and industrial-commercial sectors requiring higher security or
identity verification in a face-to-face setting.
The True ID system fully utilizes the advanced capabilities of Hypercom's
multi-function ICE 7000CE, especially its large 6", 256-color 1/4 VGA touch
graphics and pen input screen. The application also benefits from the terminal's
Internet connectivity and high performance Hitachi 32 bit CPU running at 128MHz.
With secure operating system firewalls, up to 32Mbyte of Flash ROM and up to
32Mbyte of RAM, the ICE terminal enables merchants or other users to add many
other applications alongside the ID verification system, including Hypercom's
epic (ePOS-infocommerce™) value-added services such
as e-mail, on-screen advertising, interactive electronic coupons, electronic
receipt capture, user e-commerce function and cash management reporting through
a standard browser -- in addition to the secure credit, debit and smart card
payment functions.
The True ID system on Hypercom's ICE 7000CE is available now.
For more information about True ID system, please log on to (www.hypercom.com)
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Hypercom's high performance ICE 7000CE
(Photo courtesy of Hypercom)
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