SuzoHapp Group, a supplier of cash handling systems, and Castles Technology International Corp of Taiwan, a manufacturer of payment hardware, will collaborate in developing and selling terminals that accept payments in forms other than cash.
Castles Technology said in a written announcement issued on Monday that the agreement allowed SuzoHapp to resell Castles Technology cashless payment hardware bundled with SuzoHapp services.
The multi-year partnership agreement includes the “co-development and delivery of next-generation cashless terminals within unique sales channels throughout the global unattended marketplace”.
The statement quoted executive Rory Herriman, SuzoHapp’s chief technology officer for software and digital systems. “Castles is quickly emerging as a formidable force in cashless technologies,” he said, adding that the partners would co-develop new cashless solutions.
Castles Technology said modern technology had made collecting money easier than before, but had also given thieves new channels to steal it.
“SuzoHapp and Castles have made countless investments in the areas of research, product development and market surveillance of the potential dangers and liabilities that are weakening the payments industry,” the announcement quotes Castles Technology North America chief executive Winston Fong as saying.
Castles Technology makes point-of-sale hardware that provides mobility and flexibility for businesses in retail, vending, restaurants and hospitality. The companies have a collective 85 years’ experience.
Through the new collaboration, Castles and SuzoHapp stand to increase their share of the market for their products and services in the gaming, amusement, transport and banking businesses, and in the kiosk, vending and micro-market businesses and other forms of retailing.
Last October SuzoHapp announced that it had formed a partnership with gaming equipment and financial technology supplier Everi Payments Inc to sell their combined cash management know-how to casinos.
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