SMARTPAY OBTAINS FURTHER CERTIFICATIONS IN AUSTRALIA
Wednesday, September 14, 2011

AUCKLAND, 14 September  2011 - SmartPay (NZX: SPY), a leading provider of payments and transactional solutions in New Zealand and Australia, today announced it has received Australian certification for its latest PAX S90 and S80 EFTPOS terminals.

Deployment has commenced through the company's direct and dealer channels. Having already built a base of retail merchants, with over 4,500 terminals being rented in the Australian market, the company is now able to extend its service with this new range of terminals to other merchants who require either a fixed line or mobile EFTPOS terminal.

The devices have been certified to the latest PCI 2.1 and APCA standards and have been engineered to offer full message encryption as well as encompassing a range of new hardware enhancements.

"The latest approval completes the Australian certification process for our full PAX range for connection to Westpac and follows the recent certification of Smartpays PAX SP30 EFTPOS terminal" says Andrew Donaldson, SmartPay CEO.

"Now certification has been completed, we will begin marketing through our relationship with Generate Group to more than 200 clubs throughout Australia as well as to merchants in the vicinity of each club. Additionally we have identified other channels, including targeted acquisitions to further drive the sales of our products into the Australian market"  

"It is a huge step forward for SmartPay. The growth in our Australian business proves the value of diversifying across the Tasman. New Zealand sales are expected to increase in the coming months as another 25,000 terminals will need to be upgraded. These contracts and our renewable rental base have set the company up for its 2012 result which will show an improved bottom line due to reduction of interest costs and overheads."

The company is also in the process of deploying a significant order to another large customer to supply up to 3,000 of the latest mobile SmartPay PAX S90 wireless devices over the next 12 months.

SmartPay continues to rapidly grow its rental book in both markets and already has a significant ongoing revenue stream from rental incomes.

"Funding is provided from a range of lenders including banks, high net worth individuals and our own SmartPay Subscription Limited funding facility. The rental book continues to grow rapidly with the cash inflow more than covering the related debt, thereby providing another source of ongoing revenue for the company," says Donaldson.


ENDS

For further information contact:

Andrew Donaldson, CEO, SmartPay +64 27 255 4682
Ian Bailey, Managing Director, SmartPay, Mobile +64 21 664 941  
Wayne Johnson, Chairman SmartPay Mobile +61 411 544 449
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