New Zealand's only maker of Eftpos terminals is axing its manufacturing workforce and moving that part of its operations to China.
Managing director of merchant services provider Smartpay, Ian Bailey, says about 30 staff make and refurbish the machines and most will be made redundant.
Mr Bailey says the company cannot compete with the big international and the will now be done in China.
The move will save Smartpay about $1 million a year, he says.
The company is considering buying up more companies with the money it saves from moving production offshore.
Smart Pay reported an 85% fall in profit for the six months to the end of September, which prompted a restructuring of the company.
