SMARTPAY EXPANDS AUSTRALIAN SALES
Tuesday, June 28, 2011

AUCKLAND, 28 June 2011 - SmartPay (NZX: SPY), a leading provider of payments and transactional solutions in New Zealand and Australia, today announced it has progressed the rollout of a further 3,000 of the latest SmartPay PAX EFTPOS terminals into the Australian market.

This rollout follows the recent certifications and approvals of the new SmartPay PAX SP30 EFTPOS terminal which has been certified and approved for connection to the Australian banking networks.

The company is also in the final stages of pilot-testing its latest SmartPay PAX S90 and S80 range of products, says Ian Bailey, SmartPay Managing Director.

"We expect certification shortly and will be to market within the next 4 weeks, coinciding with the expansion of our successful New Zealand direct sales model into Australia.

"Once certification has been completed, SmartPay will begin installation - via its relationship with Generate Group - into over 200 clubs throughout Australia as well as a number of merchants surrounding each club. Total volume is expected to be more than 1,500 units over the next 12 - 18 months with this extending into the general merchant markets," says Bailey

The company is also in the final stages of negotiating a significant order which would see it rollout up to 3,000 of the latest mobile SmartPay PAX S90 wireless devices over the next 12 months, and expects to be able to announce this in the near future.

"This is a huge step forward for the company and allows us to further extend our reach into to the Australian market. Further, the NZ market still has another 50,000 terminals to be upgraded over the next 24 months. These contracts and our renewable rental base will set the company up for its 2012 result."

SmartPay continues to rapidly grow its rental book in both markets and already has a significant ongoing revenues stream from rental incomes, says Bailey

"Funding for this is via a range of lenders including banks, high net worth individuals and via our own SmartPay Subscription Limited funding facility. The book continues to grow rapidly with the cashflows of the rental book more than covering the debt relating to those contracts by a minimum of 20% providing another source of ongoing revenue for the company."

 

ENDS

For further information contact:

Ian Bailey, Managing Director, SmartPay, Mobile +64 21 664 941

Wayne Johnson, Chairman SmartPay Mobile +61 411 544 449

Andrew Donaldson, CEO, SmartPay +64 27 255 4682

Julien Leys, JML Communications, +64 21 655 598

About SmartPay Limited

SmartPay is a leading provider of integrated merchant services utilising the Internet and broadband connectivity.

SmartPay's product set includes:

1. Telecommunications products and services including Voice Over IP, Broadband, EFTPOS terminals and secure EFTPOS internet connectivity
2. Audio and video, music, messaging and media via its Retail Radio product set.
3. Prepayment products and transactional processing services for the taxi industry.

 

SmartPay Core Products include:

•           Wi-Fi - one of the largest networks in New Zealand

•           In-store Audio Visual Promotional Systems - Retail Radio

•           Internet enabled EFTPOS equipment sales and rental

•           Gift Cards

•           Secure Internet Payments

•           Mobile Top-up

•           Calling Cards

•           Bill Payment Solutions

•           Voice over IP (VOIP)

•           Online Payments

For more information visit - www.smartpayltd.com