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

 

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

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