Cadmus Wins First International Order
FOR IMMEDIATE RELEASE
Auckland – June 21, 2001 – Payment solutions and data management services provider, Cadmus Technology Limited (NZSE: CTL), today announced it has signed its first international agreement to supply over 1,000 Cadmus credit card and EFTPOS terminals to PaySys International (Malaysia) Ltd.
The agreement, worth nearly $NZ 1 million, will see the supply of 500 Cadmus EFTEL 350 terminals to PaySys, with a further delivery of 500 terminals to be provided by the end of the year. Further market opportunities are also being identified under the exclusive partnership agreement.
The EFTEL 350 provides PaySys with the added capability of an integrated secure bank terminal, phone and data capture device, with the option of data being captured and transmitted either in a batch mode or on-line. The terminal also has the capability to provide e-mail and/or messaging (including advertising messages) which can be remotely delivered to the terminal display or a printer screen.
“We see this win as the first of many in the Asia Pacific and South East Asia Region,” says Pat McCammon, International Sales and Marketing General Manager of Cadmus Technology Ltd.
“The partnership allows Cadmus to gain access to the lucrative Asian market, while it enables PaySys to capture increasing market share of the local Malaysian merchant and bank markets.
“The technology will let PaySys enhance its ability to onsell and rent terminals with built-in phones, large displays and with the addition of a small handheld EFTPOS pin-pad, provide EFTPOS functionality as well.”
As part of the agreement Cadmus will develop an add-on software application to enable the terminal to accept American Express transactions.
“This is a significant entry point for Cadmus in a huge market,” says Ian Bailey, Managing Director of Cadmus Technology Ltd. “The Asia Pacific market accounts for 16% (750,000) of the total global EFTPOS terminal market (4.8 million). Securing an order from a major player like PaySys in a growth market like Malaysia, will accelerate our expansion into other international markets.
“As a New Zealand-based company, we have several advantages: our cost structures are favourable, our staff are highly skilled and we have access to the latest technologies. We are also one of the very few New Zealand-based companies that can export proven end-to-end e-commerce EFTPOS solutions for clients. This provides us with a strong point of difference in a very competitive industry.”
The EFTEL 350 terminals will be provided by PaySys on a weekly or monthly rental contract to clients.
Under the agreement, all credit card transactions of the Cadmus terminals (American Express inclusive) will be acquired and processed by MayBank in Kuala Lumpur, Malaysia.
The first delivery is for credit card terminals and will be rented by Paysys’ customers in Malaysia.
Cadmus Technology Limited is an end-to-end payment solution and data management services provider. It operates a number of unique interfaces into the NZ EFTPOS infrastructure enabling the capture and processing of information relating to customer spend, as well as the processing of in-house and private label cards.
Clients include the Vodafone New Zealand Warriors, Bartercard, Stihl, TrustPower, and many of the major motor vehicle importers and distributors.
Cadmus has a 50% interest in Pos Power Limited, via a joint venture agreement with TrustPower, a 50% interest in a joint venture with E-Smart Card Technologies Limited and a 4.55% strategic shareholding in Insight Technologies (Asia Pacific) Pty Limited. For more information, please visit www.cadmus.co.nz