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Keycorp pushes into New Zealand market

21 July 2003  |  6046 views  |  0 Keycorp pushes into New Zealand market

Australian transaction systems vendor Keycorp has won a contract to supply 1000 smart card terminals to Eftpos New Zealand (ENZ), a member of the ANZ Banking Group.

Wellington-based ENZ, one of the largest providers of Eftpos terminals and card processing services in New Zealand, will use KeyCorp's K23 terminals to support the rollout of EMV smart cards in the country.

The terminals are compatible with both EMV chip-based smartcards and traditional magnetic stripe debit and credit cards.

The vendor will also deliver EMV and Triple DES (3DES) capability and support services to ENZ. Triple DES is the highest level encryption for securing financial transactions.

Andrew Parker, key account manager, Keycorp, says: "ENZ plays a significant role in the EFTPOS market and Keycorp is pleased to have won the right to supply the terminals that will be so critical to the successful rollout of EMV smartcards in New Zealand."

In addition, Keycorp has secured a new contract with Provenco, an Auckland-based distributor of electronic payment terminals. The vendor has already received orders from Provenco totalling over A$1 million for the K23 payment terminals and associated services.

Keycorp says it has been very deliberate and selective in its choice of partners in New Zealand and is now ideally positioned to make a major impact on the market.

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