Cadmus signs Singapore deal

Eftpos terminal manufacturer and distributor Cadmus Technology today announced a deal with NETS, which manages the shopping-mad country's debit network.

Cadmus will supply 1000 vending pinpads to NETS, which is owned by Singapore's three major banks.

NETS is Singapore's most widely used payment service and provides 30,000 points-of-access at 19,000 outlets.

Patrick McCammon, director international sales and marketing for Cadmus, says the deal is a strategic relationship which could open up doors to other Asian markets.

"We're very pleased to have the opportunity to build the relationship with NETS particularly into the vending market which is a segment that has shown sustained growth not only in Singapore but also Malaysia and Japan," he said.

Cadmus will supply NETS with special pinpad terminals, which it hopes will become the default standard for vending machines in Singapore and other Asian markets.

NETS has a presence in several Asian countries including mainland China where it is active in producing and supplying smart chip cards for leading Shanghai department stores, supermarkets and shopping centres.

Cadmus is 9.9 percent owned by CET Technologies, which is a subsidiary of Singapore Technologies Electronics, the electronics arm of t he largest engineering company listed on the Singapore stock exchange.

Shares in Cadmus were up 4 percent or 1c today to 26c, having ranged between 14.9c and 40c over the past 12 months.

- NZPA