Banks jump as Bill Express falls
(14 July 2008 – Australia) After the collapse of electronic payments company, Bill Express, Australia’s banks are attempting to fill the void of Eftpos terminals.
The Bill Express network had its Eftpos terminals in up to 14,000 sites across Australia and the chance for banks to set up at these sites is now up for grabs.
The sites include newsagencies, service stations and supermarkets, and businesses are being told to do their homework before selecting a new provider.
As part of an agreement between Bill Express and ANZ, each of the machines of the failed payment company had an ANZ-operated Eftpos terminal attached.
After the collapse of Bill Express, ANZ shipped 2,600 Eftpos machines from storage to sites across Australia, according to the Sydney Morning Herald.
ANZ identified the most profitable 2,600 Bill Express terminals and sent their own equipment for installation in these sites. Despite this, every business can negotiate an agreement with any bank that they choose.
In fact, the Australian Newsagents Federation has told member newsagents not to rush into the agreement with ANZ, but instead look at what deals are on offer.
Both St George bank and Suncorp are negotiating deals with newsagents and have gained traction because they currently offer a mobile phone recharge facility included in the service.
Mobile phone recharge was the cornerstone of Bill Express’ business, which provided 80 percent of the company's $1 billion of turnover last financial year.
The sites include newsagencies, service stations and supermarkets, and businesses are being told to do their homework before selecting a new provider.
As part of an agreement between Bill Express and ANZ, each of the machines of the failed payment company had an ANZ-operated Eftpos terminal attached.
After the collapse of Bill Express, ANZ shipped 2,600 Eftpos machines from storage to sites across Australia, according to the Sydney Morning Herald.
ANZ identified the most profitable 2,600 Bill Express terminals and sent their own equipment for installation in these sites. Despite this, every business can negotiate an agreement with any bank that they choose.
In fact, the Australian Newsagents Federation has told member newsagents not to rush into the agreement with ANZ, but instead look at what deals are on offer.
Both St George bank and Suncorp are negotiating deals with newsagents and have gained traction because they currently offer a mobile phone recharge facility included in the service.
Mobile phone recharge was the cornerstone of Bill Express’ business, which provided 80 percent of the company's $1 billion of turnover last financial year.
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