SmartPay and Snapper have teamed up for a venture that will see the companies extend a contactless payment system across New Zealand's biggest Eftpos network.
The deal will extend the current working partnership between the two companies and see Snapper using SmartPay's PAX terminals in a push to capture more transactions in the retail, transport and hospitality sectors in particular.
SmartPay chief executive Andrew Donaldson said the new venture with Snapper is a logical extension to SmartPay's service offering.
"It provides additional value to our core payment solution and is a natural fit for our mobile and hospitality payments client base."
Wellington-based Snapper, which is a subsidiary of infrastructure investment firm Infratil, has issued more than 300,000 payment cards that generate 50 million transactions annually, while SmartPay has has the largest mobile and hospitality payments terminal base in New Zealand.
"Accepting contactless payment with Snapper is a proven solution that we already have in more than 2,800 taxis and targeted retail outlets across the country," he said.
"We are now working to extend that capability into the retail sector."
SmartPay has its own in-house research and development team, which he said would enable it to quickly build on and tailor the Snapper technology.