EFT (electronic fund transfer) POS (point of sale) device maker Castles Technology is focusing overseas marketing on developing countries mainly because of strong competitors and intense competition in developed markets, the company said at a November 22 investors conference.
The emergence of third-party electronic payment services such as Apple Pay, Samsung Pay and Alipay has stimulated replacement of old electronic payment terminals with state-of-the-art ones, Castles Technology said. In addition, O2O (online to offline) retail operations have generated demand for EFT POS devices and peripherals. In order to meet demand, Castles Technology will transform its business from hardware production to providing customized solutions.
In addition to emerging markets, Castles Technology has set up marketing subsidiaries in the US, Italy and Singapore.
Castles Technology will list on the Taiwan Stock Exchange by the end of 2016. The company posted consolidated revenues of NT$571.5 million (US$18.1 million), gross margin 30.02%, net operating profit NT$61.4 million, net profit NT$31.1 million and net EPS NT$0.19 for the third quarter of 2016, leading to consolidated revenues of NT$2.437 billion, gross margin 28.18%, net operating profit NT$355.5 million, net profit NT$265.0 million and net EPS NT$3.85 for January-September.
Castles Technology-developed EFT POS devices
Photo: Fu Shih-min, Digitimes, November 2016
Article translated by Adam Hwang
