Ezeatm Limited (EZA) is excited to announce that it has signed an exclusive 5 Year Distribution Agreement for ATMs and ATM-related products, parts and software manufactured by NeoICP Korea, Inc. iCash Payment Systems Limited (ICP) owns a majority voting interest in NeoICP and NeoICP is Korea’s #1 independent ATM supplier with a greater than 50% market share of the independent ATM market and a greater than 80% market share of currency handling settlement systems. NeoICP has developed world leading cash handling technology, products and proprietary settlement systems and have deployed 15,000 active devices in Korea. Its technology is being used by leading Korean companies and financial Institutions including Wholesale Stores, Department Stores and ATM ISO Companies.
In announcing the signing of the agreement with NeoICP, Mr Todd Zani, Ezeatm’s Chief Executive Officer said “This deal is a major achievement for Ezeatm and has reduced the purchase price of NeoICP manufactured product by 29%. In respect of our committed purchases, this represents a $4,400,000 saving for Ezeatm. The parties are committed to a closer working relationship to further enhance the ATMs and ATM related products for our customers and this will see immediate and long term benefits for Ezeatm shareholders.