Provenco Cadmus Endorses Smartpay Ip-Pos Service

Provenco Cadmus Endorses Smartpay Ip-Pos Service

Paymark Certifies SmartPay IP-POS Service on ProvencoCadmus Terminals

Auckland, 29 October 2008 – New Zealand’s electronic product distribution and payments processing provider SmartPay Ltd (NZX: SPY) announced today that it has signed a distribution agreement with ProvencoCadmus to distribute the SmartPay IP-POS service via its distribution channels.

As part of this initiative ProvencoCadmus have integrated the IP-POS service into the ProvencoCadmus AC8000 EFTPOS terminal and will offer this product to both its distribution channels as well as via its direct sales force.

This will enable ProvencoCadmus to offer a wider range of network connectivity, using the secure broadband access provided by the SmartPay IP-POS service.

Ian Bailey, SmartPay Managing Director says expected sales of this IP-POS configuration are likely to be significant as merchants upgrade from fixed line dial up to broadband.

‘We anticipate that ProvencoCadmus will do a significant number of connections per year with this increasing as more of the 65,000 merchants that still need to upgrade their terminals from a fixed line install a broadband connection,” says Bailey.

Bailey says that merchants will now be able to access a range of broadband services as well as connect to the Paymark EFTPOS network via a standard broadband connection, thereby reducing their costs.

Julian Beavis, CEO of ProvencoCadmus says, “SmartPay’s IP-POS service really enhances and future proofs the AC8000 product as well as providing additional security. It also enables us to offer our merchants the ability to reduce costs by removing the need for an additional telephone line.”

Bailey adds that the current dialup EFTPOS network is going to be progressively removed from service as newer broadband services are introduced making now the right time for retailers to adopt SmartPay’s IP-POS.

“With new advances in broadband connectivity, and the desire by the Government to expand the broadband network in New Zealand, this will provide both Provenco Cadmus and SmartPay with an exciting market opportunity. SmartPay is also talking to other providers on how they may also add the IP-POS functionality to their terminals platforms.”

Bailey also says that securing certification from Paymark of the IP-POS technology used in the AC8000 terminal provides a significant step forward for the widespread adoption of the service by New Zealand’s merchants.

“We are confident that the AC8000 terminal is now the benchmark standard for the retail community as it delivers all the benefits of broadband over a certified, secure network at a much cheaper cost and in today’s business environment that can only be good news for merchants,” says Bailey.

ENDS

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