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Cadmus To Resell Australia’s Bendigo Bank Services

Cadmus To Resell Australia’s Bendigo Bank Services

Auckland, 24 July 2006 – Cadmus Payment Solutions Pty Ltd, a lead provider of payment solutions announced today that it has signed a commercial supply agreement with Bendigo Bank Limited (BBL) to support and deliver Bank of Bendigo EFTPOS and banking services directly to merchants introduced by Cadmus.

Cadmus is a leading provider of advanced payment and EFTPOS solutions to the Australian market and has built a strong relationship with BBL over the last two years. The agreement will see Cadmus and BBL working closely together to provide a greater range of payment solutions to merchants and customers across Australia.

With a market capitalization of A$14 Billion and 148 years of history, BBL has grown into a major player in the Australian retail banking market with branches in every state. BBL, like Cadmus, has always been a pioneer in the banking industry being the first to launch VISA in the Australian market.

Patrick O’Brien, Managing Director of Cadmus Australia says that he is delighted with the ongoing relationship with BBL and being part of another pioneering first.

“This marks an important milestone as it is now the first time that we can provide merchants directly with EFTPOS, payment and other banking services via the BBL network. Cadmus sees significant growth both from the sales of terminals to merchants throughout Australia as well as from the proportion of revenue generated at the transactional level. We expect to see significant demand as the EFTPOS and banking services market opens up, and having BBL’s nationwide retail network will match our payment solutions offering to merchants perfectly, “says O’Brien.

David Spence, Senior Manager Card and Business Delivery Services for Bendigo Bank, says that the deal with Cadmus will see benefits that flow to existing and new customers who take advantage of the payment solutions services that both companies provide.

“The agreement will expand the company’s ability to deliver a greater range of banking services and payment solutions to the growing Australian market.

“This is an important chapter in Bendigo Bank’s future, and the association with Cadmus will continue to provide us with a robust, scalable technology platform that will deliver our clients the very latest in electronic payment banking services, including many new features as these are introduced to market,” says Spence.

ENDS

For more information please contact:
Patrick O’Brien, Managing Director, Cadmus Payment Solutions Pty Ltd, Ph +61 2 9965 7291, Mobile +61 416 140032, Email: patob@cadmus.net.au
David Spence, Senior Manager, Card and Business Delivery Services, Bendigo Bank Limited, Ph +61 3 5433 9339
Julien Leys, JML Communications, Ph +64 21 655 598

About Bendigo Bank

A community focused bank based in the central Victorian city of Bendigo, Bendigo Bank is the only Australian bank headquartered outside a capital city.

Bendigo Bank is a publicly-listed company on the Australian Stock Exchange and is owned by more than 48,000 primarily small shareholders.

A retailer of banking and wealth management services to households and small to medium businesses, it has a major presence across Victoria and Queensland and is growing its networks throughout Australia as it responds to new marketing opportunities and develops business alliances. Bendigo Bank continues its tradition of adding value for customers through quality personal service, but also provides customers with a wide range of self-help banking options such as 24-hour telephone and e-banking facilities.

The Bendigo Bank Group of companies includes the retail bank and the wealth management division comprising Trustee Company and funds manager Sandhurst Trustees, financial planners Bendigo Investment Services and Worley Securities, and debenture company Victorian Securities. A wholly owned subsidiary, National Mortgage Market Corporation is a mortgage originator and loan portfolio manager. Bendigo also participates in joint venture companies Elders Rural Bank (farm banking), with Futuris Corporation, and Tasmanian Banking Services with Tasmanian Perpetual Trustees Limited. Bendigo Bank products and services are now available through more than 500 outlets Australia-wide, including more than 150 company owned branches and 160-odd community owned Community Bank® branches of Bendigo Bank.

Bendigo Bank has assets under management of more than $16 billion and market capitalisation of around $1.4 billion dollars. It has a million customers and declared a 2004/2005 after-tax profit of $90.4 million.

End

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