Hypercom Corp. said it has reached an agreement with Visa International to help boost point of sale terminal installations in emerging markets, in part through favorable pricing.
The companies began their promotional work in the Baltic countries and Confederation of Independent States, which are in the Visa region known as CEMEA-Central Europe, Middle East, and Africa.
The agreement has now been extended to all 92 countries and territories in CEMEA.
From a 1997 survey Visa found that "the high cost of POS devices was a major barrier to expanding the card-acceptance network," said Alan Goslar, CEMEA executive vice president, business development. "This agreement with Hypercom will assist member banks wishing to start installing POS terminals, as well as those wanting to increase their terminal bases cost- effectively."
Visa cards in the developing region grew 59% and sales volume 105% in the year ended March 31, increasing the need for advanced POS technology, the companies said.