George Wallner – A Pioneer in the Electronic Payments Industry
George Wallner, founder of Hypercom Corporation and an innovator in electronic payments, invented magnetic stripe transmission technology that made his company one of the world’s top POS terminal providers.
George is the Co-Founder and CTO at Loop, a mobile commerce platform. His goal is to accelerate payments on mobile phones by connecting them directly with standard POS terminals, eliminating the need for merchants to upgrade their current equipment.
Early Life and Education
Early years are foundational in a child’s development. During these times, they form lasting connections with teachers, peers and their parents.
These experiences, combined with the environments they encounter, shape their brain architecture and lay the groundwork for later learning, behaviors, and health. By understanding how these core capabilities are formed during childhood, policymakers can craft more effective strategies.
During these crucial years, children learn to communicate, negotiate and cooperate with others. Furthermore, they develop emotional literacy skills and become more self-aware of their own feelings.
George Wallner has been an icon in the payment industry for more than three decades. As founder and former CEO of Hypercom Corporation, a pioneer of electronic payments, his expertise is unrivaled.
Hungarian-born engineer, he immigrated to Australia in 1973 to pursue an electrical and communications engineering career. It was during this time that he founded Hypercom, which created the region’s first card payments terminals and support networks.
He served as Hypercom’s president and chief technology officer, leading the development of their POS terminals and Network Access Controller (NAC) products. Through his ingenious designs, Hypercom has become a global leader in electronic payments technology.
George is currently leading technology innovation at LoopPay. His invention, Magnetic Secure Transmission (MST), powers their mobile payments solution.
Achievements and Honors
George Wallner is an industry pioneer, best known for inventing magnetic stripe transmission technology and founding Hypercom, one of the world’s premier point-of-sale providers. Additionally, he co-founded and invested in Loop, where he currently heads up technology innovation efforts.
He holds numerous patents in the fields of point-of-sale (POS), payment networks and radio communications. Furthermore, he is an acknowledged expert on radio antenna design.
He was the recipient of both the Payments Hall of Fame’s 2014 Lifetime Achievement Award and PYMNTS 2014 Innovators Award.
George Wallner was the founder and CEO of Hypercom, an innovator in electronic payments. He is widely credited with inventing POS card reading terminals and holds more than 20 patents.
However, several female employees have come forward with allegations of abuse against him. One former marketing manager reported to the personnel department that Gonzalez yelled at and hit on her during a conversation.
And Gonzalez began dating a temp worker at his office. Eventually, he wed her and hired her full time as his employee.
Albert Irato, the company’s chief executive from 1992 to 1999, loaned Wallner and Gonzalez an additional $220,000 for various reasons – some of which were interest-free loans.
George Wallner is the founder of Hypercom Corporation, the world’s leading provider of card payment terminals. He is widely credited with creating the first modern mag stripe Point-of-Sale (POS) terminal and holds more than 20 patents for his innovations – cementing himself as one of the most influential figures in electronic payments today.
George Wallner’s net worth is estimated to be in the vicinity of $100 million. He co-founded and holds majority stock in Hypercom with his brother Paul, making him worth an estimated $100 million.