Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


ANZ NZ sells eftpos terminal leasing unit to Verifone

ANZ New Zealand sells eftpos terminal leasing unit for undisclosed sum

Dec. 17 (BusinessDesk) - ANZ New Zealand, the country's biggest bank, sold its eftpos terminal leasing unit, EFTPOS New Zealand, for an undisclosed sum to global payments firm VeriFone Systems.

Once the deal is complete, VeriFone will supply electronic payment terminals and switching services in New Zealand, while ANZ will provide merchant acquiring services, which essentially is the processing of fund transfers. The deal will retain roles for all permanent EFTPOS NZ staff, though it's unclear how many of its 160 employees are permanent.

"While the merchant acquiring business is part of our core bank offering, the terminals and POS (point of sale) switching businesses are an increasingly specialist technology business," managing director business banking Fred Ohlsson said in a statement. "The sale of ENZ to VeriFone positions these businesses for growth."

EFTPOS New Zealand posted a profit of $6.7 million in the 2010 financial year on sales of $29.2 million, according to the latest financial statements lodged with the Companies Office.

The sale comes as ANZ simplifies its local business, having announced its plans to ditch the National Bank brand over the next two years ahead of the expiration of its brand licence with the UK's Lloyds TSB.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news