Worldline today revealed closing the acquisition of a controlling stake in the commercial acquiring business of ANZ.
The company has created a 51%-49% joint-venture controlled by Worldline to operate and develop commercial acquiring services in Australia with ANZ Bank.
The acquisition comes a strategic move by Worldline as Australia is a highly attractive market for the company’s expansion. It offers favorable dynamics, a growing market and receptiveness towards cashless payment methods.
The new joint-venture with ANZ Bank will also Worldline to significantly expand its merchant acquiring business outside of Europe. It will provide the company direct access to an existing merchants’ portfolio.
The company stated in the official announcement:
The combination of ANZ’s strong market position and Worldline’s global scale, best-in-class technologies and payment expertise will allow the alliance to grow revenue at a double-digit rate in the coming years.
This accelerated growth rate will be delivered through cross and up-sell opportunities based on innovative solutions such as digital onboarding, Alternative Payment Methods (APM), fraud detection, online and omnichannel capabilities, while leveraging the existing merchant portfolio.
