Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Paymark signs switching deal with EFTPOS New Zealand

Paymark signs switching deal with EFTPOS New Zealand


Auckland, 04 September 2014; Paymark and EFTPOS New Zealand (ENZ) have signed a deal that will see Paymark provide outsourced payment processing services to ENZ for the next 5 years.

ENZ has signed an initial contract with Paymark to partially outsource the processing of a significant proportion of their electronic payments.

Paymark’s Head of Sales and Marketing Paul Whiston says the contract is a significant outcome for both organisations and will also benefit NZ merchants.

“Being engaged to provide outsourced switching infrastructure to ENZ is testament to our position as a world class payment and solutions provider. The new contract will also ensure 87% of all card payments in New Zealand being afforded the security and performance standards available through our network.”

EFTPOS New Zealand was purchased by global payments company Verifone Systems, Inc. in June 2013 who will continue to operate ENZ as a wholly owned New Zealand subsidiary. Today ENZ provide payment technology and transaction processing services to around 40,000 New Zealand merchants, along with other related services.

“We are delighted with the arrangement and see it as a great example of industry collaboration”, says Peter Hansen, ENZ’s Country Manager.

“We are effectively leveraging existing core industry infrastructure in a manner that reduces complexity and duplication for our card issuing customers whilst maintaining the reliability of our domestic card payment processing networks.”

“A fundamental principle of our project to upgrade to VeriFone’s next generation transaction processing platform was the minimisation of impacts for both merchants and financial institutions. The partnership with Paymark is a valuable step for us in achieving that goal.”

Both organisations will migrate payment processing services onto the Paymark network over the next year in what will be a seamless process for ENZ merchants.

- ENDS -

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Immigration: Increase In Seasonal Workers For RSE

The current cap will be increased by 1,000 from 9,500 to 10,500 RSE workers for the 2016-17 season. Mr Woodhouse says the horticulture and viticulture industry is New Zealand’s fourth largest export industry, producing almost $5 billion in exports. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news