Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 276

WEST: 5 year contract with Stargroup to distribute next generation payment solutions in Australia and New Zealand

Posted by fidest press agency su mercoledì, 31 agosto 2016

australiaWest International and Stargroup Ltd (ASX:STL) have signed a five year agreement for the delivery of a card payment solution for the Australian and New Zealand markets. The deal marks a significant increase in West’s international presence.
Australia represents an advanced and vital payment market. The installed base is close to one million card payment (EFTPOS) terminals, with an annual market amounting to 60,000 new and 200,000 replacement terminals. Australia was one of the first countries in the world with contactless payments. Contactless cards have reached a penetration of 66 per cent, including support for digital wallets such as Apple Pay and Android Pay.Stargroup is a leading independent service operator of ATMs and EFTPOS terminals in the merchant market in Australia. The company is the only ASX listed ATM operator deploying ATMs in Australia and more importantly is the only ATM operator that has a direct ownership interest in its manufacturer, namely NeoICP, a South Korean private company.Stargroup’s objective is to become the largest ISO in the payment technology industry in Australia. Not only does this involve controlling the cash in and cash out cycle via its ATMs, but to also be a dominant player in the EFTPOS terminal and services markets. The current dominant ISO player has circa 15,000 EFTPOS terminals.
The companies have signed a five year agreement. At signing, West has received a first pilot order with a value of approx. USD 500 000. Stargroup has committed to acquire at least 2,000 EFTPOS terminals annually. Required certifications are expected to be completed in late 2016 and in early 2017 the deliveries will commence.


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