INDEPENDENT NEWS

WestpacTrust Gets The Banking Advantage

Published: Mon 27 Nov 2000 02:28 PM
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.

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