Pure Commerce POS — bank compatibility

Pure Commerce is a point-of-sale system for retail. A Sydney currency-conversion business Investec sold to Euronet for US$36m plus an earn-out, and it runs out of Singapore now.

Certified on Linkly, running on premise. Linkly reaches more acquirers than any other middleware in the market, which is why most POS start there.

The Linkly integration runs on premise.

Pure Commerce was founded in Sydney in 1997 by Daniel Lavecky, who had the idea while interning at Commonwealth Bank. It is not a till. It does multi-currency acquiring and currency conversion at the point of sale, at ATMs and online, sold to banks, acquirers and retailers with heavy foreign-card traffic. Duty-free is the classic use: its early anchor client was Downtown Duty Free at Sydney Airport, and it introduced its Australian service in 2003 with NAB as the acquiring bank.

Euronet Worldwide announced the acquisition on 8 January 2013, after almost five months of exclusive talks. The vendors were Investec and its staff. The price came out later in Euronet's quarterly report: about US$31.3 million cash plus US$5.3 million in Euronet stock, with an earn-out of up to A$30 million to December 2013, payable March 2014. Pure Commerce was turning over around US$15 million for 2012 and growing about 30% a year, with 65 staff across Sydney, Singapore, Seoul, Zurich, London and Auckland. Lavecky stayed on as CEO.

It still exists as a Euronet brand. purecommerce.com now redirects to pure-commerce.com, which lists one office — Singapore — and sells fxCHOICE, conversion at the point of sale, multi-currency acquiring, and a payment-link product aimed mainly at hospitality. The Australian entity, Pure Commerce Pty Limited, is still on the register in Sydney; it traded as Sizzle Internet Solutions and PC-Primus before taking the name.