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Bartercard Press Room
9 April 2018
Press Release

 

BPS Technology rebrands to IncentiaPay 

BPS Technology, the ASX-listed parent company of Gold Coast-based Bartercard, has officially rebranded to IncentiaPay following a successful Extraordinary General Meeting last week where the resolution was passed.

The change reflects a move to diversify into new digital payment areas and customised transactions that are a strong growth area for the company. 

CEO Iain Dunstan said IncentiaPay, which represents a collective 50-year market presence across its Bartercard, EntertainmentTM and Gruden Group brands, specialises in preeminent digital payment solutions linking SMEs and customers globally while raising exposure in a saturated market.

“We’ve launched a new brand to clearly represent our core business focus at present and into the future which has shifted to rewards, incentives and payments and away from purely a technology business,” he said. 

“The rebrand reflects expansion into new digital payment areas through the impending acquisition of Gruden Group to complement IncentiaPay’s existing Entertainment™, Frequent Values and Bartercard brands, representing 36,000 SMEs, 22,000 not-for-profits and ~600,000 consumers combined.” 

Gruden is a Sydney-based digital marketing and transactional company servicing over half a million users across 800 retail outlets and the upcoming acquisition has opened up access to customers in the fast food and hospitality sectors like Oporto, Red Rooster and Starbucks while tapping into cost synergies through Gruden’s cloud-based mobile transaction platform mobileDEN. 

Under the terms, BPS agreed to provide consideration of $8 million, comprised of 27.68 million BPS shares and $250,000 cash to Gruden.    

Since Iain Dunstan stepped into the role of CEO in November 2017, he has put a new management team and Board in place and a rebrand was the next step to reflect the company’s core business activities. 

He said the future is bright for IncentiaPay which is ingrained in partnerships and a raft value-adding initiatives for merchants in a global economy.

“We’ve cemented partnerships with Alipay, the world’s largest payment app with 520 million users which will roll out across Gruden’s 800 mobileDEN terminals, Bartercard and Entertainment™, and Alibaba, the world’s largest e-commerce platform enabling Australian SMEs to break into the Chinese market. 

“IncentiaPay will continue building new value-adding partnerships across the Asia Pacific while catering to instant and convenient customer transactions to place SMEs ahead of the curve.”

For all media enquiries, please contact: Tina Burns, National Marketing and Communications Manager, Tel: 09 414 6809, Email: tina.burns@bartercard.co.nz or Anna Herd, Senior Communications Advisor, Tel: 021 187 7090, Email: anna.herd@bartercard.co.nz

 

19 December 2017
Press Release

 

Bartercard is spreading Christmas cheer 

Bartercard spreading christmas cheer

Bartercard is adding some Christmas cheer to hundreds of Kiwi kids affected by Congenital Heart Disease (CHD). 

The company is donating 400 gifts to their chosen charity Heart Kids. Some of those gifts will be sent to Starship hospital for the children who won't be at home for Christmas, and others will be given out to Heart Kids families throughout the coming year. 

Bartercard staff spent a morning wrapping presents before handing them over to Heart Kids NZ, CEO, Rob Lutter, who will deliver some of them on Bartercard's behalf just in time for Christmas.

'I know these gifts will put a smile on those children affected by CHD, especially at this time of year. We really appreciate the continuing support we get from Bartercard,' said Mr Lutter. 

Heart Kids NZ is the only not-for-profit organisation supporting Kiwi kids and their families who are affected by CHD, right through their life.

Each week, 12 babies across New Zealand are born with a heart defect. While there are surgical procedures that can improve the heart's function, there is no cure for CHD.

Heart Kids NZ receives no government funding, has no affiliation with the Heart Foundation and must fundraise for all its services, so the Bartercard Foundation is delighted to be able to continue to support those fundraising efforts in whatever guise that may be. 

The Bartercard Foundation was established in April 2010 and is registered charity to support charities which require wider national prominence for their great cause. 100% of the donations raised go to the chosen charity. Unlike most other charities which aim to pass on 80% of their donations with 20% covering expenses and other costs, all of the Foundation's operating costs are paid for by Bartercard. These costs are increasing due to additional financial reporting obligations and information required to be supplied to the Charities Commission. 

Raymond Goubitz, Bartercard Trustee said 'Bartercard is delighted to get behind Heart Kids NZ this Christmas. It's something special to be able to donate some of these gifts to children who may not get to spend Christmas at home with their family and friends, something most of us take for granted, so anything we can do to support those affected by CHD is well worth while. On behalf of the Bartercard team, we would like to wish Heart Kids NZ and all the Heart Kids families a Merry Christmas'.

For all media enquiries, please contact: Tina Burns, National Marketing and Communications Manager, Tel: 09 414 6809, Email: tina.burns@bartercard.co.nz or Anna Herd, Senior Communications Advisor, Tel: 021 187 7090, Email: anna.herd@bartercard.co.nz

 

About Bartercard: Since its inception in New Zealand in 1992, Bartercard has grown to over 15,000 cardholders nationwide, more than 6,000 active member businesses trading over $150 million worth of goods and services outside of the cash economy each year, 110 staff and 13 offices. Many businesses utilise Bartercard as one of their core business growth strategies to move excess stock and increase profit.

Bartercard operates in New Zealand, Australia, United States, United Kingdom, France, India, South Africa and Thailand and plans to expand into Israel next. Last year, parent company BPS Technology Ltd also bought Entertainment Publications Australia and New Zealand, which produces the very popular EntertainmentBook.

18 December 2017
Press Release

 

Bartercard CEO John Scott to run NZ and Australia
 John biggerpic-635

Bartercard NZ chief executive John Scott has just been appointed CEO across both New Zealand and Australia. He takes up his new dual role immediately and will split his time across both countries, while retaining Auckland as his home base. 

"Bartercard International undertook a detailed review of its operations earlier this year and made the logical decision to combine the trans-Tasman operations into one business unit", says Scott, who has been with the company five years after a long career in business finance and data.

Scott joined Bartercard New Zealand as CEO five years ago and, in that time, has refocused the business with a vision and values that aim to build sales growth for members, empower Bartercard employees; and set in place a strategy to guide all decision-making and investment. New Zealand has embarked on a journey of digital transformation and is leading the way when it comes to technological advances and investment - this will remain a key focus over the next few years. 

"With this foundation, we have implemented more than 100 new initiatives and developed key technology platforms to help simplify and expand trading across our network", he says. "This has led to revenue doubling in the online distribution of products and services in New Zealand in the past 12 months and we will be introducing the same systems into Australia in April next year". 

Bartercard New Zealand recently celebrated 25 years in New Zealand and more than $4 billion worth of trading. Bartercard is a customer loyalty strategy that many businesses utilise to move excess stock and increase profit. The company now has 15,000 cardholders nationwide and more than 6,000 active member businesses. 



For more information, or to arrange an interview with John Scott, please contact: Tina Burns, National Marketing and Communications Manager, Tel: 09 414 6809, Email: tina.burns@bartercard.co.nz or Anna Herd, Senior Communications Advisor, Tel: 021 187 7090, Email: anna.herd@bartercard.co.nz

 

About Bartercard: Following Bartercard’s creation in Australia in 1991, Bartercard New Zealand became the first international licensee a year later. Since its inception, the Bartercard Trade Exchange has grown to more than 6,000 member businesses across New Zealand trading around $150 million worth of goods and services outside the cash economy each year. The top five sectors most active in Bartercard NZ are professional services, hospitality, automotive, construction and building, and food and drink.

Bartercard operates in New Zealand, Australia, United States, United Kingdom, France, India, South Africa and Thailand and plans to expand into Israel next. Last year, parent company BPS Technology Ltd also bought Entertainment Publications Australia and New Zealand, which produces the very popular EntertainmentBook.

6 December 2017
Press Release

 

$4 Billion Trade Dollars later, Bartercard celebrates 25 years 

Bartercard, New Zealand’s original digital currency channel, has racked up more than $4 billion worth trading since it launched in this country in late 1992.

Twenty-five years later, the company now has 15,000 cardholders nationwide and more than 6,000 active member businesses who are served by 110 staff in 13 offices. One of those members is Auckland-based Kennedy Furniture Ltd which has been an active Bartercard member since day two.

Kennedy Furniture director Kevin Johnstone is as enthusiastic about Bartercard now as he was then. “To be a part of something from its inception is a unique experience. It’s been a privilege to see how Bartercard has evolved over the past 25 years and how the network has grown. Bartercard has been of great benefit to our business from the start and still is 25 years later,” he says.

Bartercard New Zealand chief executive John Scott, who has been with the company almost five years after a long career in business finance and data, says the quarter century birthday is a significant achievement for a company and a concept that some people struggle to understand.

“We were one of the first companies in the world to offer a digital currency where no money actually trades hands. That took a bit of explaining in 1992 and, to some degree, it still does.

“The best way to use Bartercard is to use trade dollars to offset a proportion of cash spending and then use the funds generated to reinvest in your business. It does require a bit of lateral thinking to make the Bartercard network work for you. Our most successful members are the one who put in the effort and treat Bartercard as another business channel that can help grow their business,” says Scott.

He gives the example of the recent Lions tour. With hotels and motels running at 95 per cent occupancy, Bartercard members in places like Rotorua set up temporary accommodation for the Barmy Army, using their Trade Dollars. This was such a creative approach and showed their willingness to use Bartercard to offset some of their cash expenses and thereby bring in new business.”

With Bartercard now operating in eight countries, and plans in place to expand further, its New Zealand business is seen as a global innovator. “We’ve successfully developed systems and solutions here that have been deployed globally, including a web-enabled search app and sales tracker databases. New Zealand is used as an incubator for new technology-driven initiatives because we’re digitally enabled, early adopters and known for our ability to back ourselves,” says Scott.

Coming up next year is a mobile-enabled app which will list all New Zealand members’ products and services and link to Bartercard’s everyday rewards programme, bucqi. Scott is also working on an improved platform that will delivery real-time information based on the behaviours and buying preference of members.

“The future is around convergence – products, services and rewards. The trade economy is essentially about identifying idle capacity and, rather than giving it away, moving it in a more effective way that lets business owners reinvest in their company.”

Scott says 70 per cent of Bartercard New Zealand members have relationships within the trade exchange that last more than four years. And external research covering 10 years’ worth of data from new members show their average sales grow by almost 10 per cent in their first 12 months. “So, if you want to grow your business, Bartercard is an effective tool.”

Strong member relationships and community activities are an important part of the Bartercard story, with the Bartercard Foundation, set up in 2010, supporting a wide range of charities. 100% of the donations raised by the Foundation go to the chosen charity, with Bartercard New Zealand paying for all the costs of operating the trust. This year, it raised T$130,000 for Heart Kids NZ. Bartercard also sponsors the New Zealand Breakers.

To celebrate its milestone birthday, Bartercard head office and regional members have made a series of matching donations to worthy community groups, such as 50 bags of dog food to a pet shelter in Auckland and 50 boxes of nappies for Women’s Refuge in Auckland.

 

For more information, or to arrange an interview with John Scott, please contact: Tina Burns, National Marketing and Communications Manager, Tel: 09 414 6809, Email: tina.burns@bartercard.co.nz or Anna Herd, Senior Communications Advisor, Tel: 021 187 7090, Email: anna.herd@bartercard.co.nz

 

About Bartercard: Following Bartercard’s creation in Australia in 1991, Bartercard New Zealand became the first international licensee a year later. Since its inception, the Bartercard Trade Exchange has grown to more than 6,000 member businesses across New Zealand trading around $150 million worth of goods and services outside the cash economy each year. The top five sectors most active in Bartercard NZ are professional services, hospitality, automotive, construction and building, and food and drink. Bartercard operates in New Zealand, Australia, United States, United Kingdom, France, India, South Africa and Thailand and plans to expand into Israel next. Last year, parent company BPS Technology Ltd also bought Entertainment Publications Australia and New Zealand, which produces the very popular EntertainmentBook.

23 November 2017
Press Release

 

BPS: Appointment of Chief Executive Officer

BPS Technology (‘BPS’ or ‘The Company’) (ASX:BPS) announced today that the Board has appointed Mr Iain Dunstan as the Company’s Chief Executive Officer (CEO) of the Company, effective 4 December 2017.

Mr Dunstan, who will succeed Mr Trevor Dietz as CEO, has had more than 30 years’ experience in the technology and finance industry, including an extensive listed company background. Most recently, he was CEO of ASX-listed Rubik Financial Limited and facilitated the sale of Rubik to Temenos Group in May 2017. Prior to that he was the Founder and CEO of ASX listed company Bravura Solutions Limited which he grew to an enterprise with over 700 employees operating in nine countries around the world and an annual turnover in excess of $125 million. In 2007 Mr Dunstan won the Ernst & Young Entrepreneur of the Year award in the Technology, Communications, e-Commerce and Life Sciences category.

Mr Dunstan is considered by executive search firm Heidrick & Struggles to be an ideally-qualified candidate for the role of BPS’ new CEO. He was proposed as a BPS Director (and as CEO) by two former shareholders, who convened a General Meeting of all shareholders on 3rd November 2017. At that Meeting shareholders declined to elect Mr Dunstan as a BPS Director.
While the Independent Directors have recognised for some time the qualities Mr Dunstan could bring to the role of CEO, they opposed his election at the General Meeting on the basis that having a shareholder nominate a new CEO in the absence of any selection or due diligence process was unacceptable. Following the General Meeting, at the independent Directors’ suggestion, Mr Dunstan submitted his CV to Heidrick & Struggles, who had commenced their executive search following the announcement of Mr Dietz’ impending retirement. Mr Dunstan was one of several well-credentialled candidates interviewed by the search firm.

Chairman of BPS, Mr Murray d’Almeida, said that he and his fellow Directors are very pleased that Mr Dunstan has accepted the Board’s invitation to succeed Mr Dietz as CEO.

“As founding CEO, Trevor will leave big shoes to fill and we thank him for the leadership, hard work and commitment he has shown to help build BPS into a leading provider of transactional platforms and management systems, with a reach of 3.5 million consumers. He leaves the position of CEO with the business well-positioned for further growth that delivers superior returns for all our shareholders.

“We are grateful that Trevor has agreed to assist in the transition process. I know that Iain will benefit from his deep knowledge of our Company and of the many personal and business relationships that are so important to us,” Mr d’Almeida said.

Details of Mr Dunstan’s remuneration package will be released to the market in due course.

March 2017
Press Release

 

Bartercard announces exciting new sponsorship for Pulse Netball

Bartercard New Zealand is backing Central Pulse Netball for the forthcoming season, which starts on 26, March.  The New Zealand team, based in Wellington, will be competing in the ANZ Netball Elite League, which is made up of 15 round robin games followed by play offs, bringing the competition to a close in June.  

Central Pulse Netball are no strangers to Bartercard having been a member of the network for the past five years.  They have previously used their trade dollars on hospitality, catering, player accommodation when attending tournaments, as well as first aid courses.

Now that the women’s netball team have the sponsorship of Bartercard, they can really start to utilise the network to their advantage and help further promote women’s sports.  

Head Coach, Yvette McCausland-Durie, is delighted to have Bartercard as their main sponsor and is excited about the future of women’s sports ‘Having the backing of someone like Bartercard is a great privilege for not only for the team, but women’s sports in general.  We are continually encouraging women to join in more sports across the country, not only for health benefits, but for their overall general wellbeing.  All too often, we don’t find time for ourselves and joining a team like netball is a great escape.’  

The team have been training extremely hard during preseason and Yvette adds, ‘The girls are really looking forward to the season ahead and I’ve been so impressed with how they’ve managed the preseason.  A lot of the girls have had to make big sacrifices - whether it's spending less time with family or taking part time work instead of full time work to dedicate more time to the team - so hopefully it can all come together and they get the results they really deserve.’

John Scott, Bartercard’s CEO says ‘It’s always satisfying being able to give something back to the community and support teams such as Central Pulse Netball.  We wish them the very best of luck with the forthcoming season and are excited about the opportunities the network will create for the team.’  

You can follow the championships live on SKY who will be televising all games which are to be played on Saturdays, Sundays and Mondays from late March.  

-ENDS-

For all media enquiries, please contact Tina Burns, National Marketing & Communications Manager on +64 9 414 6809 or tina.burns@bartercard.co.nz.  

About Central Pulse

The Central Pulse franchise covers the Netball Central Zone region, stretching from Hawkes Bay across to Taranaki and down to Wellington.  The zone has the largest catchment in New Zealand with over 38,000 netball players including 11,500 secondary school players and is governed by the Netball Central Zone Inc. Board. 

About Bartercard

Bartercard’s world-leading innovative trade exchange system enables over 24,000 global member businesses in eight countries to benefit from the cashless economy of barter.  Since its inception in New Zealand in 1992, Bartercard has grown to over 6,000 member businesses across the country trading over $200 million worth of goods and services outside the cash economy each year.

February 2017
Press Release

 

What is Bartercard

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Bartercard NZ gets behind SKYCITY Breakers 20 days of kindness.

Onehunga High School have become the lucky recipients of a framed signed SKYCITY Breakers jersey all thanks to Bartercard New Zealand and the #20Daysofkindness campaign. 

Following a random act of kindness by Breakers fan Aaron Nicholls, who was seen recently paying for an elderly lady’s groceries, Bartercard New Zealand who sponsor the Breakers, wanted to pay it forward and give something back to the community as a way of acknowledging Aaron’s good deed. 

They were quick to jump in on the act of the Breakers launching 20 Days of Kindness, where they are calling out to the whole Breakernation to do a good deed, big or small, and post it up with the hashtag #20daysofkindness.  

The campaign finished on 15, February and in 20 Days has seen sponsors donate thousands of dollars  worth of product and services, fans pledge multiple good deeds and the SKYCITY Breakers bring a positive effect to over 500 kiwi lives through their time and the game of basketball. There has been school visits to training for low decile schools, game day experiences for children suffering from Laukemia and a huge effort from everyone involved to get behind the idea of giving back without expectation.

Bartercard New Zealand has a solid track-record of supporting over 100 communities and Not-for-Profit organisations.  Onehunga High School is one of these; their partnership dating back to 2006.  With their rich history and dedication to basketball, they were the ideal school to receive the jersey.   

John Scott, Bartercard CEO commented “It’s great to hear that these kind acts do occur; it restores your faith in humanity.  We’re delighted that we can show our gratitude to Aaron and the support of the Breakers by presenting this jersey to Onehunga High School. I know it will have a special place at the school with the basketball legacy that has been left by ex-student, Shea Ili.”    

Read Aaron's story here.

About Bartercard: 

Following its creation in Australia in 1991, Bartercard New Zealand became the first international licensee a year later. There are now 6,000 member businesses across New Zealand, trading over $200 million worth of goods and services outside the cash economy each year.

Bartercard operates in eight countries worldwide and is the largest global trade exchange business.

Ends-

For all media enquiries, please contact Tina Burns, National Marketing & Communications Manager on +64 9 414 6809 or tina.burns@bartercard.co.nz 

February 2017
Press Release

 

Bartercard Foundation

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$80,000 for Heart Kids NZ, thanks to Bartercard Foundation.
 

Bartercard Foundation is delighted to announce its partnership with Heart Kids NZ, the only not-for-profit organisation supporting Kiwi kids and their families who are affected by Congenital Heart Disease (CHD), right through their life. 

Each week, 12 babies across New Zealand are born with a heart defect.  While there are surgical procedures that can improve the heart's function, there is no cure for CHD.

Heart Kids NZ receives no government funding, has no affiliation with the Heart Foundation and must fundraise for all of its services. The Bartercard Foundation is thrilled to be able to step in and help support those fundraising efforts.

And it has wasted no time in raising funds.  Already more than $80,000 trade dollars has been raised - $32,000 trade dollars of it in just one day, thanks to a fundraising event which encouraged Bartercard members to ‘Gift a gift of giving at Christmas’ to friends and family in lieu of a physical gift. 

It’s not just donations the Foundation is looking to assist with. It is also keen to get involved in events around the country, all of which will be advertised on the Heart Kids website throughout the year.

The Bartercard Foundation is made up of three trustees who oversee its operation, on a voluntary, unpaid basis. They are Raymond Goubitz, Bartercard Trustee, Ted Midlane from Legal Consultants Ltd and the recently appointed Carmel Clark from Telephone Market Research.  

Raymond Goubitz says: “The Trustees of the Bartercard Foundation are delighted to support Heart Kids with the valuable support services they provide to the families of Heart Children. Using Bartercard Trade Dollars, the Foundation will assist their cashflow and help raise their profile.  We’re thrilled by the initial support of our member community and their generosity – it goes to show what can be raised in just a day for something so worthy.”

He adds: “The Bartercard Foundation chose to collaborate with Heart Kids after consideration of many different charities which do not receive government support.  It was felt Heart Kids were best placed to utilise Trade Dollars to assist them in achieving their objectives for the forthcoming year.”

If you would like to donate to Heart Kids, go to https://donate.HeartKids.org.nz/ or visit heartkids.org.nz to find out more about this worthy cause.  For more information on Bartercard and its services visit: bartercard.co.nz

The Bartercard Foundation was established in April 2010 and is a registered charity to support charities which require wider national prominence for their great cause.  100% of the donations raised go to the chosen charity.  Unlike most other charities which aim to pass on 80% of their donations with 20% covering expenses and other costs, all of the Foundation’s operating costs are paid for by Bartercard. These costs are increasing due to additional financial reporting obligations and information required to be supplied to the Charities Commission.

Ends-

For all media enquiries, please contact Tina Burns, National Marketing & Communications Manager on +64 9 414 6809 or tina.burns@bartercard.co.nz.  

1 November 2016
Press Release

 

BC Marketplace-102

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BARTERCARD NEW ZEALAND LAUNCHES ONLINE MARKETPLACE

Target of $500 million turnover a year by 2020

As the cash-free economy continues to grow, Bartercard NZ has launched an online marketplace for its thousands of members to make trading even easier.
 
More than 16,000 account holders throughout New Zealand belong to Bartercard, with more than $200 million worth of goods and services traded annually.
 
The company has ambitious growth plans, and Chief Executive John Scott says the new Marketplace – launching on Tuesday, 1 November – is a major step in that direction.
 
“Marketplace will greatly enhance our members’ experience, streamlining the trading process and giving them the ability to control what promotions they want to see and when they want to see them. It also analyses their search interest, provides insights and suggests deals they may not have thought of.”
 
Scott says the single gateway allows members to access all Bartercard portals via just one application, allowing for better management and a smoother end-to-end process, with more products and features being added to Marketplace over the coming months. “We’re continually improving our digital offering as we have identified this as an area where significant growth can be achieved. 
 
Scott says the Marketplace launch follows research undertaken to better understand what information Bartercard members want to receive, how and when.
 
“We combined their feedback with comments from our trade brokers and developed this new platform to give Bartercard members greater control and improved trading opportunities across the network,” he says.
 
Features of Bartercard Marketplace include:
 
  • A browsing platform for member listings and promotions, products and services
  • A streamlined process for receiving national promotions across the network
  • Members can choose what they want to receive and when
  • Analytics and targeting based on what members have selected to receive, as well as data on their own products and services
 
“It opens up greater opportunities to trade and enables us to become far more efficient in providing timely and relevant promotions to our members,” says Scott.
 
The launch of Marketplace ties in with the Bartercard Online Trade Show which runs from 1 to 15 November.
 
Scott says the key sectors active in Bartercard NZ are professional services, hospitality, automotive, construction and building, and food and drink.
 
ENDS
 
For more information, or to arrange an interview with John Scott, please contact Annie Hogan at Lassoo Media and PR on 021 725 259 or annie@lassoo.co.nz
For Media Queries: Contact Tina Burns, National Marketing & Communications Manager, Bartercard on 021 1011518 or tina.burns@bartercard.co.nz
 
About Bartercard: Following Bartercard’s creation in Australia in 1991, Bartercard New Zealand became the first international licensee a year later. Since its inception, the Bartercard Trade Exchange has grown to more than 16,000 account holders across New Zealand trading over $200 million worth of goods and services outside the cash economy each year. Bartercard operates in New Zealand, Australia, United Kingdom, India, South Africa, United States, Thailand, United Arab Emirates, and Cyprus. 
 
August 2016
Press Release

 

Batrercard feedback

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IN A DEAL WORTH $22.5M CASH, $2.5M IN SHARES AND $5M RAISED FOR COSTS AND WORKING CAPITAL, BPS TECHNOLOGY LIMITED, WHO OWNS BARTERCARD, IS TO ACQUIRE ENTERTAINMENT PUBLICATIONS AUSTRALIA AND NEW ZEALAND.


Entertainment Publications Australia and New Zealand is a popular and prominent business-to-consumer (B2C) deals platform which produces the Entertainment Book and the Entertainment Digital Membership.  It has 550,000 members and a relationship with 12,000 SMEs and 18,000 NFPs. 
 
The collaboration will provide many exciting opportunities for both partners.  The vendor of Entertainment Publications, Mr Ben Johnson, who will remain as Chairman of Entertainment after completion, said, “Entertainment Publications and BPS share the same culture and values, making this a natural win for both companies. They share the same vision for providing marketing solutions to businesses, value to customers, and support to community organisations and the charitable sector. It is a win-win for everyone.” 
 
As part of the acquisition process, BPS undertook a detailed financial and legal due diligence on Entertainment. Further detail on the acquisition is set out in the presentation announced to ASX. 
Mr Trevor Dietz, CEO of BPS Technology said “I am delighted to welcome Entertainment into the BPS group. Entertainment is an excellent business led by an ambitious team who share our core values. We expect the joining of our longstanding, valuable business networks to deliver an increasingly compelling value proposition to merchants, consumers and not-for-profits. This acquisition brings several attractive near-term growth opportunities within reach, the benefits of which will flow to new and existing BPS partners, merchants and shareholders.” 
 
It is anticipated the settlement of the acquisition will be completed mid-September 2016. 
 
 
Highlights: 
 
  • BPS to acquire Entertainment Publications Australia and New Zealand, a leading business-to-consumer (B2C) deals platform which produces the Entertainment Book and the Entertainment Digital Membership 
 
  • Acquisition set to boost BPS’ growth profile with FY17E pro forma revenue growth of 118% and FY17E pro forma EBITDA growth of 49%. Significant future growth potential with the combined BPS group benefiting from a network of 36,000 SMEs, 18,000 NFPs and 550,000 paying customers (“Members”) 
 
  • BPS successfully completes institutional placement, raising $27.5 million to fund the Entertainment acquisition and to provide growth / working capital 
 
  • Institutional placement was significantly oversubscribed with strong demand received from institutional and sophisticated investors 
 
  • All eligible BPS shareholders invited to participate in a non-underwritten Share Purchase Plan at the same price as the placement ($0.94 per share) 
 
About BPS Technology Limited (ASX: BPS): BPS Technology Limited is a leading provider of technology platforms and management systems in the Digital Payments space for Small to Medium Businesses (SMBs) in eight countries. Its technology platforms and systems help to drive customers to its SMB merchants. More than 24,000 SMBs transact in excess of 1.8m transactions worth $600m+ per annum using its various technology platforms. BPS earns fees on all transactions over the platforms via its subsidiaries Bartercard, TESS and bucqi. 
 
About Entertainment: Entertainment Publications is a business-to-consumer (B2C) deals platform with an established model proven over 21 years of profitable operations. Entertainment provides restaurant and activity guides with special offers from more than 12,000 SMEs to consumers across Australia and New Zealand. 
About Bartercard: Bartercard operates the world’s largest trade exchange. It allows small to medium businesses to conduct business transactions without the use of cash. There are 50,000+ card holders in 8 countries currently. Bartercard transactions can be conducted online, via its mobile app, across more than 7,000 bank EFTPOS terminals and on bucqi terminals. 
 
About bucqi: bucqi is a disruptive technology based around a loyalty platform designed for SMBs combined with a robust and innovative mobile payment app for both merchants and consumers. The payments platform has been two years in the making and has a number of patents pending. It allows consumers to easily pay for goods and services without taking out their wallet or swiping their credit card and they earn and redeem reward points via a wide range of participating suppliers. It has been launched in three regional cities in Queensland Australia and Wellington in New Zealand.

For more information, please contact:
Trevor Dietz
CEO, BPS Technology
+61 7 5561 9111
trevor.dietz@bpstechnology.com
 
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