Cadmus strengthens Australian channel
20 January 2005
Cadmus strengthens Australian channel with Bendigo Bank deal
Payment solutions company, Cadmus Technology Limited (NZX: CTL), today announced it has completed pilot testing and has started to roll out its new EMV compliant terminals with Australian-based Bendigo Bank. Cadmus has received an initial order of 2,500 CP03SCR EMV compliant payments terminals within the next 12 months.
The Bank has committed to two solutions from Cadmus, both based on the new CP03SCR EMV/DES3 compliant terminal. One solution is a stand-alone EFTPOS terminal and the other includes the “Keylink” interface module. Keylink interfaces the Cadmus EFTPOS terminal with a POS or ECR (electronic cash register) which automatically delivers the value of the transaction to the point of sale, removing the need to re-key figures and eliminating the potential for incorrect amounts to be entered at the till.
The bank will work strategically with Cadmus in 2005 to deliver EMV compliant solutions to its customers in the Australian merchant market. As part of the deal, Cadmus may also have the opportunity to sell or rent terminals directly to merchants.
Bendigo Bank Chief Manager Cards Division Greg Devlin said: “Bendigo Bank chose Cadmus solutions because Cadmus demonstrated their willingness to commit their own time and effort into providing a solution to meet our needs. They had completed the necessary EMV and DES3 (triple DES) certification requirements, and the Cadmus solutions also provided the bank with greater choice and flexibility in terms of additional services and features.
“We look forward to developing a long-term relationship with Cadmus, which understands our values, ethics and culture and is committed to working with us to achieve common goals.”
Cadmus International Sales and Marketing Director Pat McCammon said: “With more than 290 branches across Australia, Bendigo Bank is one of the faster growing retail banks in Australia. Winning this business increases Cadmus’ international market presence and strengthens our Australian channel significantly. Through the provision of Cadmus solutions, Bendigo Bank is enabled to meet stringent international standards and fulfil its customers’ needs for EMV compliant solutions.”
The global adoption of the EMV standard is a main focus for Cadmus, given the total replacement market is estimated at 40 million units, or approximately 7.3 million units per annum. Cadmus Technology is the sole New Zealand manufacturer and exporter of payment terminals and targets global markets as well as replacement opportunities in its existing customer base.