France’s Worldline and Australia’s ANZ bank have inked a joint venture for merchant acquiring services in Australia and adjacent markets. ANZ is a top 3 acquiring bank in Australia, and this deal will provide more market lift with Worldline’s resources. Worldline has been bulking up of late as they recently completed the purchase of major POS terminal provider Ingenico.
The following excerpt from a Yahoo News article reports more on the topic:
Worldline, today announced the signing of a major strategic commercial acquiring alliance with ANZ Bank, one of the largest banks in Asia-Pacific and Australia’s 3rd largest acquirer with a c. 20% share of transaction volumes processed in Australia.
Gilles Grapinet, Worldline’s Chairman and CEO, said: “The strategic alliance announced today between Worldline and ANZ is a landmark transaction for the Group and I am very honored that Worldline has been selected by ANZ to take over the control of its merchant acquiring business as the long term partner of choice to deliver state-of-the-art products and services to its very large portfolio of merchant customers.
- Acquisition of a controlling stake (51%) in the commercial acquiring business of ANZ for a cash consideration of c. AUD 485 million
- Creation of a 51%-49% joint-venture controlled by Worldline to operate and develop commercial acquiring services in Australia with ANZ Bank
- Strategic opportunity to expand Merchant Services outside of Europe with a unique access to one of the largest payments markets
Overview by Raymond Pucci, Director, Merchant Services at Mercator Advisory Group