Paymark signs switching deal with EFTPOS New Zealand
Auckland, 04 September 2014; Paymark and EFTPOS New Zealand (ENZ) have signed a deal that will see Paymark provide
outsourced payment processing services to ENZ for the next 5 years.
ENZ has signed an initial contract with Paymark to partially outsource the processing of a significant proportion of
their electronic payments.
Paymark’s Head of Sales and Marketing Paul Whiston says the contract is a significant outcome for both organisations and
will also benefit NZ merchants.
“Being engaged to provide outsourced switching infrastructure to ENZ is testament to our position as a world class
payment and solutions provider. The new contract will also ensure 87% of all card payments in New Zealand being afforded
the security and performance standards available through our network.”
EFTPOS New Zealand was purchased by global payments company Verifone Systems, Inc. in June 2013 who will continue to
operate ENZ as a wholly owned New Zealand subsidiary. Today ENZ provide payment technology and transaction processing
services to around 40,000 New Zealand merchants, along with other related services.
“We are delighted with the arrangement and see it as a great example of industry collaboration”, says Peter Hansen,
ENZ’s Country Manager.
“We are effectively leveraging existing core industry infrastructure in a manner that reduces complexity and duplication
for our card issuing customers whilst maintaining the reliability of our domestic card payment processing networks.”
“A fundamental principle of our project to upgrade to VeriFone’s next generation transaction processing platform was the
minimisation of impacts for both merchants and financial institutions. The partnership with Paymark is a valuable step
for us in achieving that goal.”
Both organisations will migrate payment processing services onto the Paymark network over the next year in what will be
a seamless process for ENZ merchants.
- ENDS -