October 4, 2005
Equinix to Provide Network Exchange Services and Data Centre Infrastructure for MoneySwitch Limited in Australia
Sydney — October 4, 2005 — Equinix, Inc. (Nasdaq: EQIX), the leading provider of network-neutral data centres and Internet exchange services, today announced that MoneySwitch Limited has selected Equinix to provide colocation and network exchange services from the Equinix Sydney Internet Business Exchange™ (IBX®) centre. As a part of the agreement, MoneySwitch will utilise Equinix's Sydney hub as the primary site for processing credit and debit card transactions in Australia, enabling the company to better compete in the payment solution market.
MoneySwitch uses an open source, Web-based technology platform to authorise, switch and settle financial transactions. The company's platform and banking authority, including its membership in the Bulk Electronic Clearing System (BECS), allow MoneySwitch to deploy a wealth of custom tailored payment solutions that are secure, transparent, fast and affordable. In order to implement this platform, MoneySwitch requires a high-performance and reliable network infrastructure that also guarantees the highest levels of security.
Equinix's centers offer immediate and direct access to an aggregation of leading carriers, ISPs, network service providers and other strategic partners within the same physical location. By operating within this Internet ecosystem, MoneySwitch will have the opportunity to directly link with these companies, rather than connecting to them in multiple, disparate locations and over long distances. This direct connectivity drastically increases performance for transactional applications such as MoneySwitch's by reducing bottlenecks as data traverses networks.
One of the key motivations for MoneySwitch in selecting Equinix as its partner was Equinix's Switched IP Connectivity service (S-IPC), an Internet access service designed to fulfill the IP connectivity requirements of colocation customers looking for a one-stop-shop solution. S-IPC will allow MoneySwitch to offer highly available and reliable Internet connectivity to their merchants, which will enable these merchants to offer enhanced uptime for Electronic Funds Transfer at Point of Sale (EFTPOS) operations. MoneySwitch also selected Equinix based on the company's world-class data center infrastructure and the professional services of Equinix's experienced technical staff.
“By moving to Equinix's Internet hub and directly interconnecting with the large number of networks and other strategic partners operating within the centre, we can more efficiently switch transactions for our merchants, putting us on an equal footing with the other banking institutions that we compete against,” said Jost Stollmann, CEO of MoneySwitch. “We believe that the time is right to migrate from the current cumbersome bilateral network payments structure to a more modern structure that lowers cost, allows intra-day or real-time settlement and more easily accommodates new participants."
“By operating at Equinix, MoneySwitch will enjoy an extremely secure and redundant environment for hosting its financial transaction services,” said Doug Oates, Managing Director for Equinix Australia. “In addition to the performance benefits, MoneySwitch will also be able to drastically reduce overall network connectivity costs."
Equinix is a major neutral co-location player in Sydney with more than 100 customers operating within the Sydney IBX centre.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of IXEurope into Equinix; a failure to receive significant revenue from customers in recently built out data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; the results of any litigation relating to past stock option grants and practices; and other risks described from time to time in Equinix's filings with the Securities and Exchange Commission. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
Equinix and IBX are registered trademarks of Equinix, Inc. Internet Business Exchange is a trademark of Equinix, Inc.