Westpac signs $50m payment deal

in brief Electronic payment vendor Hypercom said it had signed an approximately $50 million five-year deal with Westpac Banking Corporation.

The vendor will roll out thousands of terminals to sit on merchant countertops throughout the nation and will also service the bank's entire fleet of 80,000 terminals. The deployment will start next year.

Hypercom's selection followed a request for proposals, according to the company.

The move comes as Commonwealth Bank and National Australia Bank also roll-out new terminals, however with contactless payment capability. Hypercom's release did not mention if the terminals would be rolled out with contactless payment functionality, however, the company said in its product information that the terminals were capable of supporting it.