SmartPay brass tackle Australia's Eftpos market

SmartPay announced yesterday that it has appointed Andrew Donaldson as its New Zealand chief executive.

Donaldson joined SmartPay last year as its chief financial officer. Prior to this he was managing director of conference company BrightStar.

Ian Bailey remains group CEO. He will concentrate on developing the company's Eftpos terminal business in Australia. Former CEO Linc Burgess has been appointed general manager for sales in New Zealand and Australia.

SmartPay, listed on the NZX, has foreshadowed a second listing on the Australian Securities Exchange. Ahead of an ASX listing, SmartPay plans a 10-for-1 share consolidation, reducing shares on issue to around 100 million, from more than one billion, Scoop reports.

The company's shares last traded on the NZX at 2.4 cents and have declined by around 46 per cent in the past year.