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Worldline acquires majority in ANZ Bank Australia

Friday 1 April 2022 14:33 CET | News

Worldline has announced the closing of its strategic commercial acquiring alliance with ANZ Bank in Australia.

Worldline, a global player in the payments industry, has also announced the creation of a 51%-49% joint-venture controlled by Worldline to operate and develop commercial acquiring services in Australia with ANZ Bank.

Australia is a highly attractive and strategic market for Worldline with favourable dynamics, a sizable and growing addressable market and a high level of readiness and receptiveness towards cashless payment methods. Furthermore, with a cash penetration still high, the Australian market offers an attractive growth opportunity driven by the shift from cash to card, as the company sees it.

The new joint-venture is an opportunity for Worldline to expand its merchant acquiring business outside of Europe, with direct access to an existing merchants’ portfolio, and at the same time to generate synergies by using the Group’s payment technologies.

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Keywords: acquisition, partnership, merchant, online banking
Categories: Banking & Fintech
Companies:
Countries: Australia
This article is part of category

Banking & Fintech