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

 

WestpacTrust Gets The Banking Advantage

Bank to become major supplier of Advantage EFTPOS terminals to SMEs

Auckland – 27 November 2000: Advantage Group Limited (NZSE: ADV) has announced that WestpacTrust has agreed to become a major reseller of its line of EFTPOS terminals, including the new ICE 5000.
WestpacTrust will distribute the full range of Advantage EFTPOS terminals as part of an integrated range of banking solutions being offered to its small to medium sized business customers.
The package will include Advantage EFTPOS terminals, card merchant services transactional banking and cash handling facilities, lines of credit and personal banking services. WestpacTrust’s new service will be rolled out from 18 November 2000.
Greg Cross, Advantage CEO, says the arrangement has the potential to make WestpacTrust one of the largest suppliers of EFTPOS terminals in New Zealand.
“This is a fantastic opportunity for Advantage to expand its EFTPOS business, as WestpacTrust currently has banking relationships with 25,000 retail merchants.”
WestpacTrust is the largest provider of banking in the SME market and is the preferred supplier of banking services to a number of major industry associations, including the Retail Merchants Association of New Zealand, Restaurant Association of New Zealand, Hospitality Association of New Zealand and Booksellers New Zealand.
“These are key sectors who can benefit from Advantage’s range of Internet enabling business solutions,” says Cross.
Julian Nalepa, WestpacTrust General Manager Business, says the agreement with Advantage supports the bank’s aims of offering integrated banking solutions that add value to customers’ businesses and of e-enabling customers.
“WestpacTrust is more committed to meeting the needs of small and medium businesses than any other bank. That includes providing the most effective and up to date banking solutions to our customers,” he says.
“WestpacTrust has an in-depth understanding of e-business and this agreement with Advantage is another example of how we are applying our experience to the benefit of our customers.”
General Manager Advantage Payment Solutions, John Tait, says Advantage’s ICE terminal allows the possibility of new value-added services.
“ICE 5000 harnesses the power of the Internet and delivers rich new capabilities previously not available to the majority of retailers.
“These include capabilities such as branded receipts and terminal-based advertising and promotions. The benefits that flow from these include the ability to increase revenues and cut costs,” says Tait.
Ends

About Advantage
Advantage Group Limited, an NZSE 40 company, is a leading supplier of e-Services throughout the Asia Pacific region. Advantage employs over 400 full time people supporting customers in 15 international locations. For more information, visit http://www.advantagegroup.co.nz.
ICE 5000
The ICE 5000 combines a fully graphical touch screen with traditional POS functionality, allowing customers to touch in their PIN number or sign the screen. ICE supports credit and debit cards, cheques, smart cards, signature capture and a range of newer technologies.
The fast transmission speed of 9600 bps (bits per second) speeds transactions and lowers costs. At six lines per second the ICE thermal printer with paper cutter is rapid and ensures that paper cannot jam.
ICE brings the Internet to the retail counter top, increasing revenues and decreasing costs for the thousands of merchants that have been so far ignored in the Internet explosion.
Through the Internet, POS payment terminals can evolve into multi-function information and e-commerce devices. These terminals, which occupy a central and visible place on the retail counter, were restricted to a narrow set of functions in the past. They were primarily just used for credit, debit, cheque and loyalty transaction authorisation and capture. Today these terminals can do more, and in the process, bring new services, new revenues and new opportunities to merchants, payments processors and banks.
Beyond its EFPOS functionality, the ICE 5000 is a platform for electronic receipt capture (ERC) advertising and customer loyalty programs. Signature capture software allows merchants to store and retrieve receipts, creating a complete paperless environment that improves customer service, increases merchant efficiency and reduces charge-backs.
The touch-screen can display promotions, advertising or other loyalty-orientated messages, supporting new and profitable applications that enable merchants to enhance relationships with customers in store.

About WestpacTrust
WestpacTrust is the leading full service bank in New Zealand with 1.3 million business and personal customers. WestpacTrust is the New Zealand division of Westpac Banking Corporation, which is incorporated in New South Wales, Australia. For further information call 0800 177 377.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:

Mediaworks: Reaches Agreement To Sell TV Operations To Discovery, Inc.

New Zealand’s largest independent commercial broadcaster MediaWorks and the global leader of real-life entertainment Discovery Inc. (“Discovery”) are pleased to announce they have reached a binding agreement regarding the sale of MediaWorks’ ... More>>

ALSO:

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO:

SAFE: Live Export Ship Carrying 5,800 New Zealand Cows Goes Missing In East China Sea

Livestock carrier Gulf Livestock 1 sent a distress signal at 4:45am NZT yesterday in the East China Sea. The area is affected by Typhoon Maysak. At 4pm a patrol plane spotted a lifeboat - with no people in it - and a man in lifejacket nearby. The ship ... More>>

ALSO:

FMA: Kiwisaver Fees Don't Match Performance

The Financial Markets Authority (FMA) today published an independent report into the passive and active investment management styles [i] used by KiwiSaver providers. The FMA commissioned MyFiduciary to test the extent that KiwiSaver providers were ... More>>