Company Name: Star Payment Systems
Announcement Date: 16/12/2016
Announcement Category: Team Update
Announcement Content:
The outback town of Norseman, 726 kilometres east of Perth, is set to become a test case for what could potentially spark a revolution in rural banking in Australia.
Norseman, founded as a gold rush town in 1894, lost its only bank branch in March when ANZ shut its doors.
But the town on the edge of the Nullarbor is now home to a so-called bank in a box, or Recycler ATM.
The recycler technology has been developed in South Korea by a private company majority-owned by Perth-based Star Payment Systems, which has about 400 ATMs spread across Australia.
The Recycler ATM works like any other, but also allows customers to make deposits, including cheques and large quantities of coins.
The machines scan for counterfeit notes, while analysing $50 and $20 notes from deposits that are recycled into its payload for withdrawals.
Westpac has deployed similar recycler technologies in the Sydney CBD, but the Norseman machine is the first in rural Australia.
Announcement URL: http://www.abc.net.au/news/2016-12-16/rural-banking-test-case-atm-trialled-in-remote-wa-town/8127130
About Star Payment Systems:
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.
Go to Company Profile for: Star Payment Systems
Announcement Contact: [email protected]
