SMARTPAY CATERS FOR GROWTH, DEPLOYS POSTILION SWITCH
Thursday, February 11, 2010
SmartPay (NZX: SPY), New Zealand's leading merchant services
provider, today announced it had significantly boosted its value
added services transaction processing capability with the purchase
of an industrial grade transactional switch.
As part of the recent ProvencoCadmus payments acquisition
SmartPay purchased a transaction switching capability relating to
processing of third party cards, and planned to integrate this into
SmartPay's existing transactional processing infrastructure.
After a capability review, and with the desire to meet or exceed
new industry and payment security standards, a decision was made to
migrate SmartPay's entire platform to an industry standard and
Postilion was selected as the provider.
The number of transactions processed each month by the
company had been increasing rapidly during the past year, said
SmartPay Managing Director Ian Bailey.
"We passed two million transactions per month and decided
it was time to look for a high security, world-class solution that
would meet the needs of our business now and well into the
future.
"We have selected a powerful resource that will serve our
business and customers very well, and support our growth
objectives."
As a leading vendor of high grade switches, Postilion was
selected because of its ability to meet industry standards and
provide a solution capable of handling the processing of gift card
transactions, pre paid top up and third party card processing. This
flexibility will allow SmartPay Cadmus to better support its
customers and offer new services to its merchant base.
"Not only does the purchase of a postilion switch enable
SmartPay to considerably expand its processing capability, it also
provides a platform that meets international bank security
standards such as PCI," says Bailey.
"Meeting these standards is of increasing importance with
merchants now deploying their own cards, gift vouchers and loyalty
programmes, which contain value similar to cash. Further, the
system will also connect to Smartpay's IP-POS secure broadband
network for EFTPOS transactions allowing merchants to reduce
telecommunications costs."
The purchase is a logical extension of the current range
of services including broadband, mobile EFTPOS transaction
processing, gift card and other value added transaction processing
provided to merchants by SmartPay and also provides the opportunity
to market SmartPay to a completely new set of potential
customers.
"We are growing SmartPay and expanding our offering in a
cohesive and strategic manner. Providing everything from marketing
media to telecommunications and payments, SmartPay is an attractive
one-stop shop with a hard won reputation for innovative products
and service that add value.
"SmartPay is uniquely poised to provide technology based
solutions to customers as we seek to build long term relationships
delivering mutual value."
ENDS
For
further information contact:
Ian Bailey, Managing Director, SmartPay Ltd, Mobile +64 21 664
941
Linc Burgess, CEO, SmartPay Ltd, Mobile +64 21 920 134
Brenda Newth, JML Communications, Mobile +64 27 767 6131
About SmartPay Limited
SmartPay is a leading provider of integrated merchant services
utilising the Internet and broadband connectivity.
SmartPay's product set includes:
- Telecommunications products and services including Voice Over
IP, Broadband, EFTPOS terminals and secure EFTPOS internet
connectivity
- Audio and video, music, messaging and media via its Retail
Radio product set.
- Prepayment products and transactional processing services
dominating the Taxi industry in NZ.
SmartPay Core Products include:
•
Wi-Fi - largest network in New Zealand
•
In-store Audio Visual Promotional Systems - Retail Radio
•
Internet enabled EFTPOS equipment sales and rental
•
Gift Cards
•
Secure Internet Payments
•
Mobile Top-up
•
Calling Cards
•
Bill Payment Solutions
•
Voice over IP (VOIP)
For more information visit - www.smartpay.co.nz