Perth based ATM machine growth story Stargroup hasn’t let the grass grow under its feet since inking a deal to merge with listed ATM company iCash earlier this year.
Part of the company’s strategy has been to focus on its financial transaction business StarPOS Pty Ltd which is a provider of EFTPOS terminals to Australian businesses.
StarPOS recently announced a deal with software company Anthem Software Pty Ltd who are the preferred software maintenance and support supplier to the massive Capricorn Society, a member organisation that boasts over 16,500 automotive businesses.
Last year Capricorn processed over 11m member transactions totalling a very significant $1.41b.
ASW’s core service to Capricorn is the provision and maintenance of the CAPlink software which enables Capricorn members and suppliers to collaborate online within the order to payment cycle. A Capricorn supplier uses CAPlink to authorise purchases and submit invoice and credit note electronic data interchange transactions.
As part of the deal between the parties, ASW will create a software solution for Stargroup that will enable Capricorn members to pay for and record their purchases with Capricorn approved suppliers utilizing a Stargroup EFTPOS terminal.
Stargroup will have the added advantage of picking up traditional retail EFTPOS sales at those businesses that install a StarPOS EFTPOS terminal for ease of processing the Capricorn transactions.
Mr Todd Zani, Stargroup’s CEO and Executive Chairman said “The strategic relationship with ASW is important to Stargroup as the ASW software has been deployed to over 50,000 businesses across Australia and New Zealand and will provide StarPOS with a unique opportunity to expand its EFTPOS service offering to that customer base.
Today the customers must request private credit approval via a software interface and separately administer their EFTPOS account needs which creates duplication in the management of credit and inefficiencies in the customer’s business. When the development is complete, customers will be able to authorize terminal originated transactions via both the private credit gateway and the banking network.
This is a significant agreement for the Group and the development of the IP is likely to be demanded by other member organizations and we are already fielding further enquiries.”
In an unrelated development, Stargroup have also signed a reseller agreement with online claims and returns platform Zimble that will see Stargroup become a reseller of the Zimble platform in Australia.
Zimble is a fully automated online platform that allows for consumers to seamlessly interface with retailers who may have delivered faulty or damaged goods to them via an online ordering system.