Hypercom Corp. said it signed a $650,000 contract with Sampath Bank of Sri Lanka to supply point of sale terminals, personal identification number pads, and network access controllers for that country's first debit card system.
The 325,000 customers of Sampath Bank, one of Sri Lanka's top three commercial banks, will be able to make purchases and withdraw cash, with the amounts debited immediately from their accounts. Customers will also have access to 350,000 Cirrus automated tellers and 2.1 million locations in MasterCard's Maestro network around the world.
The bank has a progressive technological reputation. The debit program won the Best New Business Venture award from Asian Banking Digest magazine.
Clive Cooper-Smith, managing director of Hypercom Asia Pacific, said the deal "further strengthens our leadership position in Asia-Pacific."