Retailer Kmart partners with SmartPayLtd

26 May 2006

Retailer Kmart partners with SmartPayLtd for prepay solutions

Auckland Friday May 26 , 2006 - Prepay solution provider SmartPay Ltd (NZX:SPY) has secured a contract with Australasian retail giant Kmart to install the latest in electronic mobile topup and international calling card technology in to the chain’s 13 stores around the country.

The system provides Kmart with SmartPay electronic topups for Telecom NZ, Vodafone NZ and Boost mobile users in place of the retailer holding stocks of phone cards.

SmartPay chief executive Linc Burgess says the deal was significant in terms of SmartPay’s continued growth in the prepay business. Kmart is owned by retailer Coles Myer, one of Australia’s largest retailers.

The Kmart agreement follows other large high profile retail chain/convenience stores which have signed SmartPay agreements in New Zealand. These chains include Retravision, Harvey Norman, 100% Electrical, Smiths City, Powerstore and GAS.

Each SmartPay terminal, situated at the entertainment goods counters, is set up with user PIN numbers to provide control over the vouchers as well as providing regular sales reporting.

Sergio Galanti, general manager of merchandising for Kmart New Zealand, says the company recognized the benefits of being able to offer SmartPay prepay solutions to customers.

“Prepay provides a huge number of mobile phone and calling card users with a convenient payment service,” says Mr Galanti. “We are pleased to have the capability now to bring these electronic services to our customers in New Zealand.”

Electronic prepay provides a number of benefits for retailers including reduced risk of fraud and theft of card based products, continuous product supply and stores not having to purchase stock until it’s sold.

SmartPay is developing its prepayment solutions and technology base through a number of business areas including mobile topups, prepay internet services, gift cards and other services in New Zealand and internationally.

The company started trading on the NZX this week following a successful back door listing via Cube Capital Ltd.

ENDS

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