SAN JOSE, Calif., July 23, 2015 (GLOBE NEWSWIRE) -- Apigee® (NASDAQ:APIC), developer of an intelligent API platform for digital business, today announced that Paymark, New Zealand's largest electronic payments provider, has chosen the Apigee Edge API management software to create new efficiencies in its partner program and accelerate the company's digital innovation with APIs (application programming interfaces).
Paymark provides New Zealand's market-leading payment system, processing over 75 percent of the nation's electronic transactions. Over 110,000 EFTPOS terminals are connected to Paymark's network, and Paymark processes over 900 million transactions every year on behalf of more than 50 card issuers and acquirers.
Apigee will help Paymark modernize its payments systems to meet the demands of the digital economy. Initially, Apigee will help Paymark use APIs to simplify its partner onboarding process. Paymark's partner program today includes more than 75,000 merchants. In the past, the onboarding of new Paymark partners has entailed building custom integration solutions that may have involved an extended development cycle. Paymark is using Apigee and APIs to create a standard, lightweight and replicable process for onboarding partners that is designed to reduce partner onboarding time and accelerate growth in Paymark's partner program.
"Digital disruption is happening in every industry, and the electronic payments market is not immune," said Paymark's Chief Information Officer Dhaya Sivakumar. "Our business needs to move with the agility and flexibility required to meet the increasing demands of merchants and other partners. We believe Apigee's API management will help us build and expose APIs at greater speed, create a developer community around our APIs, speed up our partner onboarding and deliver new, innovative payments experiences to our customers."
APIs are a key technology for businesses in today's digital world. Behind every mobile app, smart device and connected experience sits at least one API, enabling software applications to exchange data and "talk" to other applications. Apigee's intelligent API platform helps businesses use APIs to securely share data and services across devices to serve customers in a real-time, anywhere-anytime fashion and use data to continually improve the customer experience.
Ed Anuff, Apigee vice president of product strategy, said, "Paymark plays an important role in New Zealand's retail industry. We're proud that this payments industry leader is putting its faith in Apigee to help its digital transformation. We look forward to helping Paymark become a next-generation payments platform and champion digital innovation."
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This press release contains forward-looking statements, including statements regarding market adoption of digital technologies, planned customer adoption and implementation of Apigee's products, and potential future opportunities between Apigee and Paymark and anticipated benefits resulting from such opportunities. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, the ability of Apigee's software to meet its customers' needs, the quality of Apigee's software, support and services and related infrastructure capacity and any incorrect implementation or use of Apigee software.
The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee's financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee's most recent quarterly report on Form 10-Q. Apigee's SEC filings are available on the Investor Relations section of the Company's website at http://investors.apigee.com and on the SEC's website at www.sec.gov. Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Paymark is New Zealand's leading provider of payments, loyalty and information services with an Oceanic ambition. Paymark strives to make the handling of payment and information as easy and efficient as possible. Paymark develops and maintains secure and efficient financial infrastructure to bring clients closer to their customers, shortening the distance between buying and paying. This makes Paymark a key partner for banks, businesses, retailers and consumers who expect user-friendly, secure payment and information systems. Last year Paymark carried 75% of all electronic payment transactions in New Zealand and processed over $55 billion in total value. For more information, please see https://www.paymark.co.nz/.
Apigee® (NASDAQ:APIC) provides an intelligent API platform for digital business. Many of the world's largest organizations select Apigee to enable their digital business, including 20 of the Fortune 100, six of the top 10 Global 2000 retail brands, and six of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, eBay, and First Data. Apigee is headquartered in San Jose, California and has over 400 employees worldwide.
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