CNS aligns with world payment solutions leader
Computer Network Systems of the UAE will partner with Hypercom to sell smart card- and Internet-enabled card readers for in the Emirates
UAE-based Computer Network Systems (CNS) has signed a deal with market leader Hypercom to market its range of electronic payment systems.
Hypercom provide point-of-sales card readers, and associated networking solutions and payment processing software. The company has cornered the market in Jordan with its regional distributor STS, holding 100% market share, and is now looking to expand its presence in the UAE.
“Our partnership with Hypercom is an extension of our core philosophy of associating with the leading IT companies in the world,” said Tony Alam, general manager of CNS. “Hypercom’s world-renowned expertise in banking solutions will provide us with an added edge while addressing the needs of the banking industry in the UAE.”
ABN Amro bank recently announced the availability of next generation Visa Smart cards in the UAE. Brian Stobo, general manager for Hypercom Middle East and Africa said that launch represented a perfect opportunity for it’s point of sale terminals, which all support smart cards.
“Smart card technologies have been around for some years, but it has been difficult to find the institution to take the leap of faith and actually deploy smart cards to their cardholders. There is no business case in deploying thousands of cards if you don’t have devices that can accept those cards - you can’t deploy thousands of terminals if there are no cards. It does involve a bit of risk for the institutions involved, they are to be commended for that, this could be the first step in what will be a catalyst in the financial services industry.”
Stobo also said that Hypercom’s solutions presented a lot more than just a payment option. Hypercom’s ICE5000 terminal is both smart card and Internet enabled. This allows the terminal to be used for advertising, email, and other B2B services. Mobile applications of the terminal are currently undergoing trials in London taxis.
“It doesn’t help giving the customer a smart payment card they can only use at the most prestigious and expensive shopping mall in Dubai; you need to allow them to go to the store on the corner, the gas station, the parking metre - if you can find a payment solution that they can use in all those different environments then you have a good business case for a cashless society,” he said.