SYDNEY -- Transaction processor Cashcard Australia says it achieved record 100 percent availability during scheduled system uptime in the 2001-2002 financial year.
Chief Executive Officer Greg Baker noted in a news release that Cashcard has improved its availability record each year from 1998, when it was at just over 99.96 percent.
Schedule changes, resulting in outages of just six hours and 26 minutes, will now be addressed to reduce their impact, as part of Cashcard's policy of continuous availability, Baker added.
Cashcard in March received Payments System Board approval for an Exchange Settlement Account (ESA) at the Reserve Bank of Australia, which will allow the company to directly settle with other ESA holders rather than contracting with a bank to provide settlement services on its behalf. (See related story Independents making headway in Oz)
