The first advanced card acceptance solution in the region that capitalises on the high-speed and secure processing power of the broadband internet network, helping merchants capture all sales opportunities and improve customer service
HONG KONG, Aug. 6 /PRNewswire-Asia/ -- Global Payments Asia-Pacific Limited ("Global Payments"), a joint venture between The Hongkong and Shanghai Banking Corporation Limited ("HSBC") and U.S.-based Global Payments Inc. (NYSE: GPN), has introduced Global BroadbandPay(TM), an Internet Protocol (IP)-based point-of-sale solution that provides merchants with fast, secure and reliable card acceptance services across the Asia-Pacific region. Merchants and processing partners no longer need to rely on slow dial-up networks or invest in expensive dedicated communication links to their card acquiring banks. Instead, this new product enables use of their existing internet connection to enjoy a "plug-and-play" experience. Global BroadbandPay is now available to merchants in Brunei, Hong Kong, Macau, the Maldives, the Philippines, Singapore and Sri Lanka.
(Logo: http://www.prnasia.com/sa/200803261513.jpg )
EMV standard-based chip cards with higher security standards are quickly becoming ubiquitous as a result of the banks' efforts to reduce fraud. Processing encrypted chip card transactions over slow dial-up networks inevitably affects a merchant's ability to capture every sales opportunity, especially during peak traffic hours, without impacting customer service. Some of these chip cards, particularly those issued in the European region, have an added layer of encryption that in some instances can delay a card transaction to more than 30 seconds. With Global BroadbandPay, powered by a 32-bit ARM 9 processor-based Hypercom(R) T4220 point-of-sale device and an ultra high-speed SSL-enabled IP network, chip card transactions can be authorised within as fast as 2 seconds. This payment solution is also compliant to the Payment Application Data Security Standard (PA-DSS) and Payment Card Industry PIN Entry Device (PCI-PED) for secure PIN entry, assuring merchants and cardholders receive added protection.
Commenting on the launch, Ian Courtnage, President -- Global Payments Asia-Pacific, said, "Merchants no longer have to compromise speed for security and can now enjoy both benefits. Global Payments has developed this product after undertaking significant investments in our SSL gateway infrastructure for the Asia Pacific region. This launch further strengthens our suite of one-stop card processing services, and once again we have expanded our trusted and superior payment processing capabilities across Asia."
Sidharth Singh, Director, Regional Product & Business Development -- Global Payments Asia-Pacific, added, "Supporting the full range of card brands along with integration support for merchants' electronic cash registers, Global BroadbandPay is ideal for establishments with high customer footfalls, especially multi-lane retailers such as supermarkets, department stores and duty free shops. Merchants will enjoy the dual benefits of minimising customer queuing time through faster check-outs while significantly reducing their communication costs."
About Global Payments Asia-Pacific Limited
Global Payments Asia-Pacific Limited (Global Payments), currently serving merchants in 11 countries and territories across Asia, is the largest pan-Asian card processing company in the region. The company is a strategic joint venture between Global Payments Inc. (NYSE:GPN), a leading worldwide payment processor and The Hongkong and Shanghai Banking Corporation Limited. The company brings a new level of innovation to merchant services in the region with an expanded range of innovative payment solutions, industry-leading merchant reporting tools, and unparalleled merchant services. Global Payments has established a strong presence in the Asia-Pacific region and now operates in Brunei, China, Hong Kong, India, Macau, Malaysia, the Maldives, the Philippines, Singapore, Sri Lanka and Taiwan. For more information about the company and its services, please visit http://www.globalpayments-asia.com .
This announcement by Global Payments' may contain certain forward-looking statements within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including revenue and earnings estimates and management's expectations regarding future events and developments, are forward-looking statements and are subject to significant risks and uncertainties. Important factors that may cause actual events or results to differ materially from those anticipated by such forward-looking statements include the following: continued certification by credit card associations, foreign currency risks, competition and pricing, product demand, market and customer acceptance, development difficulties, the effect of economic conditions and consumer spending, security breaches or systems failures, costs of capital, changes in state, federal or foreign laws and increases in credit card association fees, utility or system interruptions, the ability to consummate and integrate acquisitions, and other risks detailed in the Company's SEC filings, including the most recently filed Form 10-Q or Form 10-K, as applicable. The Company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.
Media Relations Contact:
Lillian Ng
Tel: +852-3529-5862
Email: lillian.ng@globalpay.com
