StarGroup Limited (STL) is a vertically integrated banking technology business and specializes in the sale, deployment and operation of ATMs, cash handling and other banking equipment in Australia. The company has 3 and soon to be 4 arms:
Star Payment Systems: This division of the group is involved in ATM deployment in Australia. The business has 348 active ATMs at 30 June 2016.
StarATM: This division is involved in ATM sales, ATM Software and Support Sales.
StarPOS: StarPOS is involved in EFTPOS Deployment. The business commenced the deployment of EFTPOS facilities by virtue of a wholesale EFTPOS/payWave agreement it signed with the payment processing Company, namely First Data, whom provide the EFTPOS terminals and switching processing of the EFTPOS terminals.
StarLink: is the soon to be new arm of the company after the acquisition of Indue Limited is finalized this month and will provide ATM switching and processing. A switching company issues an electronic funds transfer to take place from the customer’s bank account to the switching company’s account. Once the funds are transferred to the switching company’s bank account, the switching company sends an approval code to the ATM authorizing the machine to dispense the cash. The diagram below explains the benefits of the new acquisition:
