Cadmus First on Foreign Currency EFTPOS
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Cadmus First to Make Foreign Currency EFTPOS Available
Cadmus Technology Supplies BNZ Merchants with Foreign Currency Conversion Software
Auckland, 30 January 2007 – Advanced payment solutions company, Cadmus Technology Limited (NZX: CTL) says that it has built a unique EFTPOS solution with Bank of New Zealand (BNZ) and Pure Commerce PTY Limited (Pure) that allows international tourists to pay for goods and services - purchased in New Zealand via their Visa or MasterCard - in their home currency.
Following an approach by BNZ, Cadmus developed the software solution for the CurrencySelect EFTPOS facility in association with Pure using Cadmus’s latest AC8000M EFTPOS terminal. The system has already been installed in high profile visitor sites such as Scenic Circle Hotels.
Paul Jamieson, Cadmus’s Relationship Manager for BNZ says that CurrencySelect EFTPOS is another project where Cadmus was able to demonstrate its leadership in designing, developing and delivering an EFTPOS solution to meet specific customer needs and to ensure that BNZ was the first to market with this new facility.
“Cadmus is proud of its track record in successfully developing and deploying specialist EFTPOS solutions, and BNZ’s CurrencySelect EFTPOS is another good example of an application that is fully compatible with all international standards such as EMV and Triple DES whilst also giving merchants additional services and capabilities,” says Jamieson.
“The software behind the CurrencySelect EFTPOS feature converts the New Zealand dollar amount of any identified overseas issued Visa and MasterCards into their domiciled currency such as United States dollars or Swiss Francs.”
“BNZ needed an EFTPOS solution that was not just shrink-wrapped or off the shelf which is why they turned to Cadmus to create a specific software application that works with our advanced AC8000M terminals to provide the currency conversion specified for the Bank’s customers.”
Jamieson also says that Cadmus’ ability to develop specialist solutions for niche markets is a strong competitive edge which is seeing increasing new business demand for the Company’s EFTPOS technology both in New Zealand as well as overseas markets.
“Anecdotally we understand that there are approximately 3,000 - 4,000 businesses in New Zealand that provide various services to overseas tourists, and each one these could benefit directly from Cadmus’ EFTPOS Currency Conversion solution.”