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

 

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news