Sky and Space Global has inked a deal with major African telco Paratus Group to enter the global point-of-sale device market, utilising the ASX-listed company’s cutting-edge nano-satellite technology.
In a market update on Monday, Sky and Space said it had signed a deal with Paratus, which delivers telco services into more than 27 African countries, that will see the two companies cooperate in a “field trial” of nano-satellite-based point-of-sale technology.
According to Sky and Space management, the agreement will see the companies partner up connect a point-of-sale device to a banking partner through Sky and Space Global’s IP network.
The deal represents the first step in the two companies working to replace the current limited and unreliable means of communicating with point of sale devices in remote areas of the African continent, with new technology.
The collaboration with Paratus Group is another positive development for Sky and Space after the satellite industry upstart last month signed a $US30 million (AUD$40 million) agreement with Nigerian company Beep Tool – a messaging and payments application - to use its nanosatellite technology for the next five years.
Sky and Space sees the Paratus deal as a key step in opening the door for the company to supply narrow band communications to thousands of point of sale devices on the Paratus network across Africa.
Deployment of point-of-sale technology is becoming widespread in Africa with a rate of 450 devices per 100,000 people in some countries according to Sky and Space.
The new deal also marks a deepening relationship between Sky and Space Global and Namibian-based Paratus given Sky and Space already has a commercial offtake contract with Sat-Space Africa, a wholly owned subsidiary of Paratus.
Sky and Space CEO Meir Moalem said: “We are very pleased to be working with partners such as Paratus who are well established in the African market and their customer-base reflects the communication needs of the people and corporates in the continent.”
“Our solution will widen the connectivity coverage and reliability of our partners and will enable them to connect the unconnected and drive global socio-economic development.”
Paratus Group CEO, Mr. Barney Harmse said: “We have already come a long way with SAS and we believe in their solution and their ability to bring new technology into the market.
“This field trial will enable us to integrate our solution with our customers and demonstrate, once again, our position and commitment within the finance sector.”
This week’s announcement comes as Sky and Space continues to advance its full scale nano-satellite network of up to 200 units, with full commercialisation on target for 2020.