April 15, 2014
MT330 IS SET TO REVOLUTIONISE CARD TRANSACTIONS
Bendigo Bank and Quest Payment Systems, together with Strategic Payments Services (SPS), are about to launch an innovative mobile payment solution.
MT330 will revolutionise how small and medium businesses accept card payments, making the transaction easier than ever before for both the customer and business operator.
Michael O’Shea, Head of Access and Payment Systems at Bendigo Bank, says MT330 is a low-cost credit and debit card terminal that connects to almost any smart device, giving business owners more freedom, choice and connectivity.
“The business downloads a free app onto its own smart device (be it phone or tablet) which is paired with the MPOS (Mobile Point of Sale) terminal to take secure payments from customers,” he said. “This will be a great tool for trades people or other businesses on the go, as they’ll be able to receive payments on the spot while offering their customers greater convenience."
Bendigo Bank and Quest Payment Systems will offer MT330 via their own respective brands. Mr O’Shea said the partnership is motivated by a mutual desire to enhance the offering of merchants and improve the experience of consumers.
“When we first sat down with Quest to discuss a partnership it very quickly became evident that both organisations have a strong belief in providing value and service to merchants, and while it’s important to be competitive it’s not just about selling on price.
“Both companies are nimble, employ local people and are working towards a mutually beneficial outcome. We look forward to working with Quest to not only bring MT330 to market, but to explore other opportunities,” he said.
Damien Halloran, Director Sales and Marketing at Quest added his company is excited to work with the Bank on delivering a game-changing payments product.
“It’s great to work with Bendigo Bank to deliver an Australian developed chip and PIN mobile payments solution to their small business customers."
“When we looked for a wholesale acquiring partner for our own business, we wanted to work with a bank that shared the same values - Bendigo was the obvious choice.”
Simon Stephenson, Managing Director of SPS says the technology SPS offers plays a key role in the offering.
“SPS Payments Hub makes it simple, secure and cost effective for MPOS vendors like Quest Payment Systems to integrate next generation merchant POS solutions to a real time acquirer processing platform, facilitating omni-channel payments for our customers."
“We’re delighted to have worked in partnership with Quest and Bendigo to deliver an innovative mobile payment solution to the Australian market,” said Mr Stephenson.
The mutual wholesale acquiring and processing agreement will be finalised by the participating companies in the coming weeks, with MT330 set to go to market in May.
• Bendigo Bank – Lauren Andrews
• Quest Payment Systems - Damien Halloran
About Bendigo Bank:
Bendigo Bank is the retail arm of Bendigo and Adelaide Bank Limited. We’re committed to helping our customers and partners achieve their goals and our communities to be more prosperous, happy places in which to live.
Large and secure
• Established in 1858
• Profitable for 155 consecutive years
• 90,000 shareholders
• Top 60 company on Australian Stock Exchange
• 1.5 million customers
• 1,900 ATMs
• 600 branches and customer service outlets
• 24/7 mobile and online banking
• Full suite of personal and business banking products
• 300 locally owned Community Bank® branches
• $100 million Community Bank® grants given since 1998
• $120,000 in community grants awarded by our Community Telco™ initiative since 2003
ABOUT QUEST PAYMENT SYSTEMS PTY LTD
With headquarters in Melbourne, Quest is an Australian owned technology company providing a diverse and innovative range of end-to-end payment solutions to businesses and financial institutions, both locally and abroad. As the country’s leading full-service payment solution supplier, delivering Australia’s only locally designed and manufactured range of payment terminal hardware, Quest delivers both mass market and custom solutions drawing on over twenty years of development expertise. Quest’s portfolio of solutions include fixed line and mobile payment terminal hardware, software, gift card and online payment solutions, EMV smartcard, contactless, communications and transaction routing solutions as well as bespoke hardware and software design, professional consulting and manufacturing services.
ABOUT STRATEGIC PAYMENTS SERVICES:
Strategic Payments Services Pty Ltd (SPS) is one of Australia’s leading independent transaction processing companies. SPS Payment Hub provides real –time, multi –channel card and payment processing services for acquirers, issuer, merchants and corporate enterprises. SPS processes over 55 million transactions a month, drives over 30,000 POS and 9,000 ATM terminals and manages over 2.2 million cards. SPS headquarters and operations are located in Sydney Australia. SPS is a joint venture
with MasterCard® Australia (52.5%) and Bendigo and Adelaide Bank (47.5%).
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