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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Scouring: Cavalier Merger Would Extract 'Monopoly Rents' - Godfrey Hirst

A merger of Cavalier Wool Holdings and New Zealand Wool Services International's two wool scouring operations would create a monopoly, says carpet maker Godfrey Hirst. The Commerce Commission on Friday released its second draft determination on the merger, maintaining its view that the public benefits would outweigh the loss of competition. More>>


Scoop Review Of Books: She Means Business

As Foreman says in her conclusion, this is a business book. It opens with a brief biographical section followed by a collection of interesting tips for entrepreneurs... More>>


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Housing: English On Housing Affordability And The Economy

"Long lead times in the planning process tend to drive prices higher in the upswing of the housing cycle. And those lead times increase the risk that eight years later, when additional supply arrives, the demand shock that spurred the additional supply has reversed. The resulting excess supply could produce a price crash..." More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news