HP Opens New Market Opportunities to Banks with Prepaid Card Services

PALO ALTO, Calif.--([ BUSINESS WIRE ])--HP (NYSE:HPQ) today announced new services that provide banking clients with a flexible, secure, self-service and cost-effective payment delivery solution for prefunded cards.

"As consumers and businesses increasingly use debit and prepaid cards as money-management tools, banks need the ability to provide their clients with cost-effective prepaid solutions"

The [ HP Prepaid Card Services ] provide clients with:

Increased simplicity by using a platform that provides a single view of the portfolio, thereby driving efficiency in customer service and standardizing back-office operations across products.
New market opportunities by allowing banks to provide card-based payment services, regardless of a consumera�s credit eligibility. Prepaid cards create new revenue streams by enabling banks to meet unique market opportunities that exist within corporations, retailers, healthcare organizations, transportation agencies, universities and government entities.
Inventory management that allows clients to deploy cards that contain no value until assigned and activated. A logistics management function tracks inventory levels, automatically reorders cards and dispatches cards when they are needed.
Fraud protection that reduces client exposure to losses by applying advanced fraud monitoring tools on the transactions. The HP Prepaid Card Services support the latest EMV Chip and Pin requirements, thereby reducing the possibility of creating counterfeit cards or fraudulent transactions.

aAs consumers and businesses increasingly use debit and prepaid cards as money-management tools, banks need the ability to provide their clients with cost-effective prepaid solutions,a said Sean Kenny, senior vice president, Industry Services, HP Enterprise Services. aHP provides financial services clients with highly flexible prepaid card solutions featuring innovative self-service capabilities that increase cardholder satisfaction while lowering costs for call centers.a

HP Prepaid Card Services add a comprehensive suite of modules across the entire life cycle of pay-before products, offering web-enabled services such as:

An inventory management system tracks the complete life cycle of the card, providing clients with the assurance that they have card inventory ready for distribution;
A self-service customer portal enables cardholders to easily enroll their cards securely with their issuing bank, view their transaction histories, add funds, change their PIN and report lost or stolen cards;
A client brand able customer service portal allows simple and secure access to cardholder profiles and transactions to address customer inquiries.

HP Prepaid Card Services are an extension of the [ HP Cards and Payments Services ] portfolio, which supports an extensive range of debit, credit and now prepaid options, including the capability to use multiple currencies on a single card.

By enabling funds to become immediately available to consumers, HP Prepaid Card Services help financial institutions and businesses across a variety of industries and governments in their pursuit ofan [ Instant-On Enterprise ]. In a world of continuous connectivity, the Instant-On Enterprise embeds technology in everything it does to serve customers, employees, partners and citizens with whatever they need, instantly.

About HP

HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The worlda�s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure at the convergence of the cloud and connectivity, creating seamless, secure, context-aware experiences for a connected world. More information about HP is available at [ http://www.hp.com ].

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, includingbut not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HPa�s businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected operational and financial results; and other risks that are described in HPa�s Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2011 and HPa�s other filings with the Securities and Exchange Commission, including but not limited to HPa�s Annual Report on Form 10-K for the fiscal year ended October 31, 2010. HP assumes no obligation and does not intend to update these forward-looking statements.

� 2011 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

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HP Opens New Market Opportunities to Banks with Prepaid Card Services