<PAGE>
EXHIBIT 10.27

                               WAIVER AND CONSENT

This WAIVER AND CONSENT (this "Waiver and Consent") is entered into as of March
25, 2002, between and among, on the one hand, the lenders identified on the
signature pages hereof (such lenders, together with their respective successors
and assigns, are referred to hereinafter each individually as a "Lender" and
collectively as the "Lenders"), FOOTHILL CAPITAL CORPORATION, a California
corporation, as the arranger and administrative agent for the Lenders ("Agent"),
and, on the other hand, HYPERCOM CORPORATION, a Delaware corporation ("Parent"),
and each of Parent's Subsidiaries identified on the signature pages hereof (such
Subsidiaries are referred to hereinafter each individually as a "Borrower", and
individually and collectively, jointly and severally, as the "Borrowers"), with
reference to the following:

         A.       Borrowers and Parent previously entered into that certain Loan
                  and Security Agreement, dated as of July 31, 2001, as amended
                  by Amendment Number One to Loan and Security Agreement dated
                  October 3, 2001, by Amendment Number Two to Loan and Security
                  Agreement dated November 13, 2001, and by Amendment Number
                  Three to Loan and Security Agreement dated February 13, 2002
                  (as the same may be further amended, restated, supplemented,
                  or otherwise modified from time to time, the "Loan
                  Agreement"), with Agent and Lenders pursuant to which Lenders
                  have made certain loans and financial accommodations available
                  to Borrowers and Parent.

         B.       Parent recently consummated a private placement of its common
                  stock resulting in proceeds to Parent in excess of $35 million
                  (the "Private Placement").

         C.       Parent and Borrowers desire to pay off amounts outstanding
                  under the Wallner Replacement Note with proceeds received from
                  the Private Placement (the "Requested Transaction").

         C.       Subject to the terms and conditions contained herein, the
                  Lenders are willing to waive the provisions of the Loan
                  Agreement and applicable Loan Documents for which the above
                  Requested Transaction would prohibit or violate so long as the
                  Requested Transaction is consummated in accordance with the
                  terms and conditions set forth herein.

         E.       Terms used herein without definitions shall have the meanings
                  ascribed to them in the Loan Agreement.

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
herein contained, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:

1.       Waiver and Consent. The Lenders hereby waive the provisions of the Loan
         Agreement and applicable Loan Documents that would prohibit or that
         would be violated by the payment and cancellation of the Replacement
         Wallner Notes ON THE CONDITION THAT the proceeds of the Private
         Placement are used to make such payment and cancellation and that such
         payment does not exceed $3.6 million.

2.       Conditions Precedent to Waiver and Consent. The satisfaction of each of
         the following, unless waived or deferred by Agent and Lenders in their
         sole discretion, shall constitute conditions precedent to the
         effectiveness of this Waiver and Consent and each and every provision
         hereof:

         (a)      Agent and Lenders shall have received this Waiver and Consent,
                  duly executed by the parties hereto, and the same shall be in
                  full force and effect;

         (b)      No Default or Event of Default shall have occurred and be
                  continuing on the date hereof, or shall result from the
                  consummation of the transactions contemplated herein;
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         (c)      Each of the representations and warranties contained in the
                  Loan Agreement shall be true and correct in all respects on
                  and as of the effectiveness hereof, as though made on and as
                  of such date except for such representations or warranties
                  that are made expressly as of an earlier date;

         (d)      No injunction, writ, restraining order, or other order of any
                  nature prohibiting, directly or indirectly, the consummation
                  of the transactions contemplated herein shall have been issued
                  and remain in force by any governmental authority against any
                  party hereto; and

         (e)      Agent and Lenders shall have received all expenses and costs
                  incurred by Agent and Lenders in entering into this Waiver and
                  Consent, including attorney's fees, then due and payable.

3.       Representations and Warranties. Parent and Borrowers each hereby
         represents and warrants to Agent and Lenders that:

         (a)      the execution, delivery, and performance of this Waiver and
                  Consent are within its corporate powers, has been duly
                  authorized by all necessary corporate action, and are not in
                  contravention of any law, rule, or regulation, or any order,
                  judgment, decree, writ, injunction, or award of any
                  arbitrator, court, or governmental authority, or of the terms
                  of its charter or bylaws, or of any contract or undertaking to
                  which it is a party or by which any of its properties may be
                  bound or affected;

         (b)      this Waiver and Consent constitutes a legal, valid, and
                  binding obligation, enforceable against it in accordance with
                  its terms; and

         (c)      this Waiver and Consent has been duly executed and delivered
                  by each such party.

4.       Miscellaneous.

         (a)      Counterparts; Telefacsimile Execution; Effectiveness. This
                  Waiver and Consent may be executed in any number of
                  counterparts, each of which, when so executed and delivered,
                  shall be deemed an original. All of such counterparts shall
                  constitute but one and the same instrument. Delivery of an
                  executed counterpart of this Waiver and Consent by
                  telefacsimile shall be equally effective as delivery of an
                  original executed counterpart of this Waiver and Consent. Any
                  party delivering an executed counterpart of this Waiver and
                  Consent by telefacsimile also shall deliver a manually
                  executed counterpart of this Waiver and Consent but the
                  failure to deliver a manually executed counterpart shall not
                  affect the validity, enforceability, and binding effect of
                  this Waiver and Consent.

         (b)      Choice of Law and Venue; Jury Trial Waiver. This Waiver and
                  Consent shall be governed by and construed in accordance with
                  the laws of the State of California. The parties hereto agree
                  that the provisions of Section 13 of the Loan Agreement are
                  hereby incorporated herein by this reference mutatis mutandis.

         (c)      Limited Agreement. The waivers, consents, and modifications
                  herein are limited to the specifics hereof, shall not apply
                  with respect to any facts or occurrences other than those on
                  which the same are based, shall not excuse future
                  non-compliance with the Loan Agreement, and except as
                  expressly set forth herein, shall not operate as a waiver or
                  an amendment of any right, power or remedy of Agent or
                  Lenders, nor as a consent to any further or other matter,
                  under the Loan Agreement.

                            [SIGNATURE PAGE FOLLOWS]
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         IN WITNESS WHEREOF, the parties hereto have caused this Waiver and
Consent to be executed and delivered as of the date first above written.

PARENT:

HYPERCOM CORPORATION,
a Delaware corporation

By:   /s/ JONATHON E. KILLMER
   --------------------------
Name:   Jonathon E. Killmer
Title:  Executive VP & COO

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<S>                                                          <C>
BORROWERS:

HYPERCOM U.S.A., INC.,                                       HYPERCOM MANUFACTURING RESOURCES, INC.,
a Delaware corporation                                       an Arizona corporation


By: /s/ JONATHON E. KILLMER                                  By:  /s/ JONATHON E. KILLMER
   --------------------------                                   -------------------------
Name:   Jonathon E. Killmer                                  Name:    Jonathon E. Killmer
Title:  Executive VP & COO                                   Title:   Secretary



HYPERCOM HORIZON, INC.,                                      EPICNETZ, INC.,
a Missouri corporation                                       a Nevada corporation


By: /s/ JONATHON E. KILLMER                                  By: /s/ JONATHON E. KILLMER
   --------------------------                                   --------------------------
Name:   Jonathon E. Killmer                                  Name:   Jonathon E. Killmer
Title:  Secretary                                            Title:  Secretary
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Signature page to Waiver and Consent (continued)

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<S>                                                          <C>
BORROWERS (continued)

HYPERCOM LATINO AMERICA, INC.,                               HYPERCOM EMEA, INC.,
an Arizona corporation                                       an Arizona corporation


By: /s/ JONATHON E. KILLMER                                  By:   /s/ JONATHON E. KILLMER
   ------------------------                                     --------------------------
Name:   Jonathon E. Killmer                                  Name:     Jonathon E. Killmer
Title:  Secretary                                            Title:    Secretary


HYPERCOM (ARIZONA), INC.,
an Arizona corporation

By: /s/ JONATHON E. KILLMER
   --------------------------
Name:   Jonathon E. Killmer
Title:  Secretary

LENDERS:

FOOTHILL CAPITAL CORPORATION,
a California corporation, as Agent and as a Lender

By: /s/ JOHN NOCITA
   ---------------------------
Name:   John Nocita
Title:  Vice President
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