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.