Electronic product distribution and merchant services provider SmartPay has acquired telecommunications provider Merchant IP Services (MIPS). Both companies are based in Auckland.
SmartPay chief executive Linc Burgess says the MIPS service will allow SmartPay to bundle a range of new broadband products and services, specifically developed for merchants and independent sales organisations, along with third-party resellers.
“We have a number of resellers in that secure payment area that we are informing now about the acquisition. SmartPay would also like to develop further distribution channels for MIPS.”
He says MIPS has developed a proprietary technology called IP-POS to allow older-version dialup eftpos terminals to interface securely into a broadband or public internet network.
Burgess says this secure connection is of great interest to the banking community.
“It allows for secure transactions over what was an unsecured network.”
He says the acquisition of MIPS was a natural progression as SmartPay plans to be the largest, local integrated merchant services provider.
“MIPS has some great services including IP-POS and it is a local company. Combining the MIPS service with SmartPay’s services means we can offer merchants a one-stop-shop and single billing for a wide range of services used by the merchant.”
No redundancies are expected and at this stage and MIPS will continue to operate out of its North Shore office.