Keycorp sells 10,000 new EFTPOS terminals to CBA

Stan Beer
Thursday, 08 December 2005 16:15

IT Industry - Deals

Secure electronic transaction solutions provider Keycorp Limited (ASX:KYC) has won a deal with the Commonwealth Bank of Australia (CBA) to supply 10,000 new generation EFTPOS terminals.

The CBA's largest single order of Keycorp terminals will take the total number of K71 terminals deployed with the bank's merchant customers to about 90,000. This makes the K71 the most widely used EFTPOS terminal in the bank's fleet, according to Keycorp.

Keycorp spent a year developing the hardware and software specifically for the CBA and expects about 20,000 of the new terminals to be in place with the bank's merchant customers by the end of this year.

The Keycorp terminals can deliver a range of CBA valued-added POS services under the XPOS banner. XPOS offers a suite of more than 150 products including gift cards, mobile and home phone recharge, calling cards, Internet recharge, ring tones, road toll passes, magazine subscriptions, fishing licences and prepaid tourist attraction tickets.

Last month CBA launched an addition to the XPOS family - the BPOINT over-the-counter bill payment service -- which is also supported by the Keycorp K71X terminal. BPOINT allows merchants such as newsagents, pharmacies and convenience stores to process their customers' household bills at the counter.

Rohan Ganeson, General Manager, Payment Solutions, at Keycorp, said the earlier models of the K71 range of EFTPOS terminals had proven themselves over many years and were popular with the bank's merchants because they were reliable and robust.