ATM and electronic payment system provider iCash Payment Systems (ASX:ICP) has announced that its South Korean subsidiary is ready to commence the rollout phase of its $30 million contract with the Lotte Group.

NeoICP Korea, a wholly-owned subsidiary of iCash, has completed the development, test and pre-operation phase of the ATM technologies it will deploy for Lotte, iCash said today.

Lotte has ordered 50 devices to be deployed during the remainder of the calendar year, with another 100 units per month for the next 15 months beginning in January.

The benefits of the contract win will be visible in the company’s 1H10 results, iCash said.