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Revolutionary New Concept

Convenience and control have taken a major leap forward for New Zealand homes today with the launching by POS Power Ltd of a full function EFTPOS and Credit Card in home payment systems. POS Power Ltd is a joint venture company formed by TrustPower Ltd and Insight Data Ltd specifically for this purpose.

Kiwi ingenuity between the joint venture partners has resulted in what is believed to be a world first, where customers can buy and pay for utility and other services directly from this home using their telephone.

POS Power Director and TrustPower Chief Executive, Jeff Williams said “Initially TrustPower’s electricity customers will be offered the opportunity to have their electricity meter connected to a special full function telephone. The large display will show power usage down to a half hourly level for yesterday, last week and last month, as well as power prices for each interval, the credit dollar balance and the day when the balance needs to be topped up.” He said, “Our customers won’t need to worry about the meter reader coming on to their property, power bills in the mail and payment due dates. They all disappear under our new system. The customer is in charge of how much he or she pays for electricity and when to pay for it. Budgetting will be easy when there are no surprise bills.”

The advantage for consumers is that they are in full control. They can monitor home power usage, take advantage of time of day pricing by running appliances at cheaper price times, and can pay whenever they want to by any EFTPOS or major Credit Card. The POS Power system is EFTPOS and Credit Card secure to meet the most rigorous New Zealand banking requirements.

POS Power Director, Ian Bailey, who has been managing the system’s technical development says, “The POS Power system has a two way communication between the home and POS Power – when you pay for the services you have purchased, the transaction is accepted in exactly the same way as with EFTPOS or Credit Card payments made in retail stores.

The POS Power system will accommodate a variety of purchases you may make with any retailer or service provider such as buying from TV advertising or direct mail, pay TV or videos, electricity, gas or perhaps enable buying your lotto ticket.”

Patents have been applied for in New Zealand and internationally and this New Zealand innovation paves the way for POS Power to be the leader in the home information and payment market.

Ian Bailey says, “This has been a fast to market system with the original idea being conceived in July last year. Field trials began in November 1999 and the first 1,000 units for sale will be delivered next month. From some initial discussions I have had, this device would also have considerable appeal in the Australian market.”

Jeff Williams said “This is an exciting new approach to the technology area and has the distinct advantage of simplicity, convenience and security over existing systems via the internet. This is another first for TrustPower in the delivery of quality customer service and we are looking forward to increasing the pace of our growth in customers as more units become available.”


A L CARPENTER
CHAIRMAN, TRUSTPOWER LTD

For further information contact:

Jeff Williams Ph 07 574 4806, or mob. 021 742 080

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