Former type Public Fate Acquired by Verifone Products Payment terminals Founded 1978, Australia | Traded as NYSE: HYC Defunct 2011 Founder George Wallner Parent organization VeriFone, Inc. | |
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Key people Norman Stout, Chairman; Philippe Tartavull, CEO & President Headquarters Scottsdale, Arizona, United States Subsidiaries Wynid Technologies SA, Hypercom EMEA Ltd | ||
Hypercom was an American company that produced electronic payment processing hardware and software and was acquired by rival VeriFone in 2011.
History
Hypercom was founded by Hungarian born George Wallner in Sydney Australia in 1978. It went on to dominate the south pacific region in terms of payment terminals. In 1988 the company signed a deal with American Express to provide its terminals to them in the US. To consolidate the deal, Hypercom moved its head office from Australia to Arizona in the US. It then faced head to head competition with VeriFone on its home market.
On April 4, 2011, Ingenico announced its agreement to acquire Hypercom's U.S. Payment Systems Business prior to the close of the VeriFone acquisition On the same day it announced that its UK and Spanish operations would be sold separately to a private investment company and this business was renamed as Spire Payments.
On May 12, 2011, The Department of Justice filed a civil antitrust lawsuit to block the proposed acquisition of Hypercom by VeriFone saying the planned sale of Hypercom’s U.S. POS terminal business to Ingenico does not resolve the antitrust concerns
On August 4, 2011
On September 30, 2011 Hypercom US announced it formally changed its corporate name to Equinox Payments, LLC.