STARGROUP signs a 3 Year, $15Million, ATM Cash Convenience Agreement with Goldfields Money to Significantly Reduce Costs
(firmenpresse) -
STARGROUP SIGNS A 3 YEAR, $15MILLION, ATM CASH CONVENIENCE AGREEMENT WITH GOLDFIELDS MONEY TO SIGNIFICANTLY REDUCE COSTS
HIGHLIGHTS
- Star Payment Systems signs a 3 year ATM Cash Convenience Agreement with Goldfields Money with an initial limit of $15million for its national ATM network which significantly lowers cash costs.
- Star Payments will provide Goldfields Money with its own state of the art ATM machines to service customers in remote locations where major banks have withdrawn banking services.
- Star Payments will install its bank in a box Recycler ATM in the Goldfields Money branches with the first installation scheduled for early October 2016.
- Stargroup to partner with Goldfields Money and roll out Star labelled financial products to its Customers.
Financial Technology and ATM machine company Stargroup Limited (ASX : STL) is pleased to announce that it has signed a 3 year, $15million ATM Bailment Service Agreement with emerging ASX listed Authorised Deposit-taking Institution (ADI) Goldfields Money (ASX : GMY).
Further, Stargroup is also excited to announce that it will be working closely with Goldfields Money to automate and improve its in-branch banking experience for its customers with the installation of the unique bank in a box ATM Recycler into the Goldfields Money branches. The first installation of the Recycler ATM (RATM) will be installed in Norseman in early October before a further rollout into strategic regional locations and other Goldfields Money branches.
Mr Todd Zani, Stargroups CEO and Executive Chairman said This is a significant transaction for Stargroup and helps us significantly reduce our cost of funds. This is an excellent example of win : win business in that it represents a significant cost saving over our present cash bailment arrangement and is also a diversification of income for Goldfields Money in relation to its present activities.
Goldfields Money has stated it intends to become a bank that is recognized as the most valued financial services provider to their strategic partners and their mutual customers and we have made no secret of our desire at Stargroup to become the number one ATM and financial technology player in Australia.
This agreement and our commitment to work closely with Goldfields Money on other financial products will see us become a key player in both the cash out and cash in cycle within Australia. I am excited about the opportunity that these future projects will create for both Stargroup and Goldfields Money, said Mr Zani.
Mr Simon Lyons, Goldfields Moneys CEO said This is a fantastic opportunity for Goldfields Money. We recently announced that we were investing in digitising our back office and developing a banking platform to enable more effective third party distribution to existing and new distribution partners and we are excited to partner with Stargroup and roll out the RATM in our branches.
This branch automation technology which can be fully customised for our customers as a result of being able to directly work with Stargroup in our own backyard is truly a unique opportunity for Goldfields customers.
We have already seen tangible benefits of this project with an increase in customer numbers and funds on deposit. We are pleased to be able to use this new technology to service more remote communities.
Overall we see this collaborative approach whereby Goldfields Money populates a network of pre-agreed ATMs with our excess cash reserves, as a positive move for our remote customer base.
Importantly the returns are uncorrelated to the credit cycle, provide significant diversification benefits, enhancing our partnership with Star Payments and introduces no additional credit risk into the Goldfields Money balance sheet, said Mr Lyons.
FURTHER INFORMATION
For further information, please contact:
Todd Zani - CEO and Executive Chairman
Stargroup Limited
Tel: +61 (08) 9200 5834E: todd(at)starpaymentsystems.com.au
Simon Lyons - CEO
Goldfields Money Limited
Tel: +61 (08) 9325 7300E: slyons(at)goldfieldsmoney.com.au
Media-
Matt Birney-----
Director - Cannings Purple---
Tel: +61 419 217 090, ---E: mbirney(at)canningspurple.com.au-
About Stargroup
Financial technology company Stargroup Limited is the only ASX listed company deploying ATM machines in Australia and importantly, the only listed ATM company having a direct ownership interest in the manufacturer of its ATM technologies, namely NeoICP, a south Korean private company.
Stargroup Limited became the exclusive distributor of the cashPod ATM range including the recycler ATM, back office and payment technologies in Australia for the next 5 years on 7 August 2015.
Stargroup Limited, via its wholly owned subsidiaries, StarPOS and StarApps, is also an EFTPOS and payWave technologies provider and developer of the source code in its terminals via its 5 year distribution agreement with West International AB, a Swedish NASDAQ listed company, to distribute next generation EFTPOS payment terminals and solutions in Australian and New Zealand.
About Goldfields Money
Goldfields Money Limited is an Authorised Deposit-taking Institution (ADI) regulated by Australian Prudential Regulation Authority (APRA). They are currently the only Western Australian headquartered and ASX-listed ADI. In pursuing their vision of becoming the digital bank of the future they are focused on building the business around customers priorities through smart use of digital technologies.
Leseranfragen:
Das Finanztechnologieunternehmen Stargroup Limited ist das einzige an der ASX gelistete Unternehmen, das in Australien Geldautomaten bereitstellt, und vor allem das einzige börsennotierte ATM-Unternehmen, das eine direkte Beteiligung am Hersteller der ATM-Technologien - dem südkoreanischen Privatunternehmen NeoICP -hält.
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Datum: 14.09.2016 - 13:34 Uhr
Sprache: Deutsch
News-ID 494698
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