20 February 2018
Visit www.avoka.com

Bank of Queensland outsources eftpos network to Keycorp

26 July 2006  |  10819 views  |  0 Sydney - Opera House aerial

The Bank of Queensland (BoQ) has signed a six year deal worth A$14.4 million with Australian e-payments vendor Keycorp for the upgrade and management of its entire fleet of eftpos terminals.

Under the deal, Keycorp will acquire all of BoQ's eftpos devices currently serving the bank's merchant customers around Australia.

Keycorp says existing devices will be replaced with new terminals and software which it will manage and support going forward.

Bruce Thompson, CEO, Keycorp, says banks face ongoing challenges managing a large fleet of payment terminals which need to be continually upgrades and made compliant with changing regulatory and technical requirements.

The agreement is expected to generate A$14.4 million in annuity revenue for Keycorp over the six years.

David Liddy, managing director, Bank of Queensland, says the deal provides the bank with "state-of-the-art merchant terminals for out existing merchant customers while laying the platform for future growth".

"Importantly, Bank of Queensland's merchant terminals will now have the technological base to offer innovative customer offerings in the future. They are another weapon in our arsenal for providing exceptional service to Australia's small and medium businesses," says Liddy.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Hitachi teams with MasterCard and KeyCorp for smart card venture

Hitachi teams with MasterCard and KeyCorp for smart card venture

25 November 2005  |  7697 views  |  0 comments
Bank of Queensland cashes in ATM Solutions business

Bank of Queensland cashes in ATM Solutions business

25 July 2005  |  12392 views  |  0 comments
Bank of Queensland customers bugged by new core banking system

Bank of Queensland customers bugged by new core banking system

18 May 2004  |  8136 views  |  0 comments
Westpac outsources Eftpos network

Westpac outsources Eftpos network

10 May 2004  |  6352 views  |  0 comments
Keycorp pushes into New Zealand market

Keycorp pushes into New Zealand market

21 July 2003  |  6095 views  |  0 comments
Bank of Queensland switches ATMs to Aptra Edge

Bank of Queensland switches ATMs to Aptra Edge

15 July 2003  |  10385 views  |  0 comments
Bank of Queensland to implement Fiserv core banking system

Bank of Queensland to implement Fiserv core banking system

22 January 2003  |  7850 views  |  0 comments
EDS wins ten-year outsourcing deal with Bank of Queensland

EDS wins ten-year outsourcing deal with Bank of Queensland

07 March 2002  |  10906 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://www.capgemini.comvisit www.ebaday.comvisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11671 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9282 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9118 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
7766 views comments | 13 tweets | 11 linkedin
FCA explores creation of global sandboxFCA explores creation of global sandbox
7190 views comments | 19 tweets | 18 linkedin

Featured job

Competitive
Hong Kong, Asia-Pacific

Find your next job