SmartPay appoints new MD, chairman

Company reviews activities as market turns sour

Merchant services technology vendor SmartPay has appointed Ian Bailey as its new managing director and John Seton as acting chairman.

Chairman Bob Parkinson resigned to become acting CEO for the Auckland Rescue Helicopter Trust, operators of the Westpac Rescue Helicopter.

John Seton has been a director of SmartPay for several years, and will take the chairman's role until a permanent replacement is appointed.

Seton also announced that a former head of Cadmus Technology, Ian Bailey, is SmartPay's new managing director.

Since leaving Cadmus Technology in 2007, Bailey established Merchant IP Services (MIPS) which developed the IP-POS product and company, recently acquired by SmartPay.

IP-POS allows legacy Eftpos terminals to connect to the internet in a secure manner and is the only such product approved by Paymark.

Recently Provenco/Cadmus included the IP-POS service into its latest generation Eftpos terminals under and agreement with SmartPay.

SmartPay intends to review all aspects of its business in light of the current economic environment.

As part of the restructuring CEO Linc Burgess will take a role focusing on the development of vertical markets, including the taxi sector as well as developing sales.

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