ASX-listed electronic transactions provider, Keycorp will supply 1,500 K23 advanced point-of-service terminals to UK-based retailer Vanguard PLC, who will in-turn deploy the terminals to AXA, a leading banking service provider in The Slovak Republic.
The deal is said to be worth $1 million for Keycorp and it is expected to spark further opportunities in the European region.
"Slovakia is experiencing growth in its emerging banking environment and this order is part of new implementations of EFTPOS infrastructure," says CEO Keycorp, Bruce Thompson.
This is the first time Keycorp has used a supplier with a strong local presence to attack an international market. "Until now, every time [Keycorp] went overseas it tried to have a physical presence on the ground," said Maria Thoma, general manager of corporate communications for Keycorp.
Thompson says the deal "underlines Keycorp's commitment of strengthening its sales and distribution network to service international market opportunities."
If successful, the vendor hopes to replicate the partnership with Vanguard in other regions around the globe.
The K23 series of new generation terminals support credit and debit transactions that are delivered through an intuitive user interface, The K23 series are capable of delivering TCP/IP Internet connectivity options, which provide the opportunity to introduce value added merchant solutions, such as, loyalty, ticketing, messaging, electronic receipts and other ASP (application service provider) based services.