A statement from Westpac said this would enable automated end-of-day reconciliations, quicker in-store transactions and the elimination of keying errors as orders are synced from the Kounta PoS to the payment terminal.
Retail and hospitality merchants who have a Westpac-branded settlement account can obtain daily business takings on demand using Westpac's Instant Settlement feature, if they settle their EFTPOS machine the same day.
Jim Tate, chief product officer, Business Bank, Westpac, said as Australia moved towards a cash-free society, hospitality and retail businesses must build infrastructure that can scale..
"As the digital payment space continues to evolve and the need for physical forms of payment is reduced, our goal is to ensure we support businesses with the right payment solutions to meet customer expectations.
“At present, Presto Smart offers real-time, in-depth terminal health monitoring, meaning if a merchant’s Presto terminal encounters an issue, it can be solved remotely by a member of Presto’s support team in most cases.
"In August, we will launch terminal health monitoring to remotely identify issues, a first in merchant services. Gone will be the days when a business can’t take a payment due to a battery glitch or poor connectivity."
Kounta founder Nick Cloete said: “Kounta's collaboration with Presto Smart unlocks instant benefits for retailers, with little to no effort. Our cloud technology has enabled us to provide integrations to further boost efficiencies, including automated reconciliation, the elimination of keying errors and greater stability.
"On average our customers with integrated payments and accounting save four hours per week on reconciling cash, completing banking and data entry - that's an extra 108 hours a year to focus on what really matters to these guys.”
Presto Smart uses Wi-Fi, hence payments can be made anywhere; it has automatic 3G fallback on selected terminals.