Sydney 7 November 2008 - iCash has completed the final test phase of a new ATM designed in Australia and manufactured at our factory in Korea specifically to meet the Australian Payment Clearing Association’s (APCA) approval requirements to be listed on the Consumer Electronic Clearing System (CS3) Approved Devices List.
APCA is a public entity owned by the banks, building societies and credit unions and coordinates, manages and ensures the implementation and operation of effective payments clearing and settlement systems. The Reserve Bank of Australia has been a member of APCA since its inception and also has special rights of representation including an automatic right to appoint representatives to the APCA Board and management committees.
APCA’s CS3 approval requirements demand the highest levels of data and device security to protect the integrity of transactions between financial institutions and card holders processed in Australia.
iCash management fully support APCA in implementing these high standards as ATMs stand in the front line of defence against personal data compromises. Our new ATM will be submitted to Witham Laboratories, one of only a few approved independent testing facilities in the world who is permitted to test and verify our machines ability to meet or exceed the APCA standards.
The Directors are confident that this device will meet or exceed the high standards demanded by APCA and will be awarded certification.
Please visit www.icashpayments.com.au for current technical and investor information.
James Manny Executive Chairman
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