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

 


ANZ sells EFTPOS New Zealand to VeriFone

Media Release
For Release: 17 December 2012

ANZ sells EFTPOS New Zealand to VeriFone

ANZ today announced it has agreed to sell EFTPOS New Zealand Limited (ENZ) to VeriFone Systems, Inc. (VeriFone), a leading global payments company. ENZ is a 100% owned subsidiary of ANZ Bank New Zealand Limited (ANZ NZ).

ENZ offers end-to-end card payment solutions, encompassing terminal supply, Point of Sale (POS) switching, and merchant acquiring on behalf of ANZ NZ for more than 40,000 customers throughout New Zealand.

Following the sale, ENZ will continue to provide terminal supply and POS switching services in New Zealand, while merchant acquiring services will be provided by ANZ NZ as “ANZ Merchant Business Solutions”.

ANZ NZ will provide transitional services using its existing switch infrastructure as VeriFone begins deployment of its Point platform.

ENZ employs around 160 staff. There will be roles for all permanent staff at the completion of the sale.

Fred Ohlsson, Managing Director Business Banking, ANZ New Zealand said: “In recent years ANZ NZ has embarked on a simplification strategy focusing on our core business.

While the merchant acquiring business is part of our core bank offering, the terminals and POS switching businesses are an increasingly specialist technology business and it makes sense for it to be owned by VeriFone."

“The sale of ENZ to VeriFone positions these businesses for growth, while the ongoing relationship with ENZ helps ensure ANZ NZ can continue to deliver excellent payments service to our customers in New Zealand,” Mr Ohlsson said.

VeriFone is the global leader in secure electronic payment technologies and the number one supplier of terminal devices worldwide. VeriFone acquired Point, Europe’s largest provider of payment and gateway services, in 2011. VeriFone will be deploying the Point platform into New Zealand as part of its acquisition of ENZ.

The transaction is not material to ANZ and the terms of the sale were not disclosed.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news