The joint venture will provide ANZ Australia’s small business, commercial and institutional customers in Australia with access to market-leading point-of-sale and online payment technology.
The newly formed merchant acquiring group was originally announced back in December 2020.
“Receiving fast and secure payments is key to running a successful business and this partnership will provide our customers with access to some of the most advanced payments technology currently available, as well as future innovations, to improve the speed and security of point-of-sale and online payments,” ANZ group executive Australia retail and commercial, Mark Hand, said at the time.
“The partnership also responds to the fast-changing way that consumers want to pay for goods and services, particularly in a post-COVID environment,” Mr Hand continued.
ANZ and Worldline hold 49 per cent and 51 per cent interest in ANZ Worldline Payment Solutions, respectively.
The sale of ANZ’s Merchant Acquiring Business to the joint venture provides ANZ with around 8 basis points of level 2 Group CET1 capital.
Maja's career in journalism spans well over a decade across finance, business and politics. Now an experienced editor and reporter across all elements of the financial services sector, prior to joining Momentum Media, Maja reported for several established news outlets in Southeast Europe, scrutinising key processes in post-conflict societies.