ANZ offloads Eftpos NZ to VeriFone

ANZ offloads Eftpos NZ to VeriFone

Summary: Eftpos NZ becoming too much of a "specialist business" for ANZ Bank, and is being sold to VeriFone.

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TOPICS: Banking, Australia
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Eftpos New Zealand is being sold to electronic payments company VeriFone Systems by its parent company ANZ Bank.

Eftpos NZ is owned by ANZ Bank subsidiary ANZ New Zealand, and provides Eftpos terminals as well as point-of-sale (PoS) switching services to retailers and businesses in New Zealand.

"In recent years, ANZ NZ has embarked on a simplification strategy focusing on our core business," ANZ NZ managing director for business banking Fred Ohlsson said in a statement. "While the merchant acquiring business is part of our core banking offering, the terminals and PoS switching businesses are an increasingly specialist technology business, and it makes sense for it to be owned by VeriFone."

VeriFone has made some big acquisitions in recent times, snapping up Point International in November 2011 for its new payments infrastructure. Earlier that month, VeriFone bought Global Bay Mobile Technologies in order to be more involved in the mobile retail and payments space.

Along with the Eftpos NZ acquisition, VeriFone has purchased Sektor Payments, which is also based in New Zealand. The latter, formerly owned by Sektor Group, will trade under VeriFone New Zealand.

Eftpos NZ will continue to supply terminals and PoS switching services. Merchants that are looking to acquire Eftpos services will be able to do so under ANZ NZ's Merchant Business Solutions brand. VeriFone will be deploying its Point platform in New Zealand, and, in the meantime, ANZ will be providing transitional services on its own switch infrastructure.

Eftpos NZ currently has 160 staff members, and ANZ has made it clear that all permanent staff will retain their jobs post-acquisition.

Topics: Banking, Australia

Spandas Lui

About Spandas Lui

Spandas forayed into tech journalism in 2009 as a fresh university graduate spurring her passion for all things tech. Based in Australia, Spandas covers enterprise and business IT.

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