Shares in Keycorp jumped 40 cents, or almost five percent, to AU$8.60 by lunchtime.
Keycorp said NAAP would market the K78, which is a hand-held wireless terminal for point of sale transactions, to retailers and a range of solutions providers which serve large corporates.
"The confirmed roll-out and potential of this project is significant," Keycorp's chief executive Michael Thomas said in a statement to the Australian Stock Exchange.
"NAAP and their partners will have the opportunity to sign up thousands of merchants who will use Keycorp's K78 mobile commerce terminals. NAAP expect to continue to expand their business in the far east," he said.
Telstra said in July it planned to take a 51 percent stake in Keycorp. Due diligence is under way.
