Listed technology company Provenco has partnered with American Express by acquiring its New Zealand base of eftpos terminals.
Under the deal, Provenco will acquire and manage the fleet of terminals as well as providing ongoing support to customers who operate the terminals.
The terminals are located mainly in hotels and restaurants around New Zealand.
General manager of Provenco Payments, John Tait, said the acquisition of the fleet was a welcome addition to Provenco's domestic business.
"Businesses operating the terminals will automatically gain access to Provenco's advanced payments technology and customer services."
American Express' VP Merchant Services, Membership Awards and Engagements in New Zealand, Stephen Powell, said: "The terminal business is becoming more specialised with the introduction of the latest security standards. Having a technology partner like Provenco made a lot of sense for us."