VeriFone – PAY – Acquires Two Major Players in New Zealand Payments Industry
NYSE: PAY) announced an agreement with ANZ Bank New Zealand Limited (ANZ NZ) to acquire EFTPOS New Zealand Limited (ENZ). Additionally, VeriFone announced an agreement with the Sektor Group of New Zealand to acquire its Sektor Payments operation.
The acquisitions provide VeriFone with comprehensive software, services and distribution resources to serve New Zealand with payment solutions and managed services, leveraging its Point payments-as-a-service platform.
ENZ will continue to operate under its current branding, EFTPOS New Zealand, as a VeriFone company. It is the largest EFTPOS solutions and payments provider in New Zealand, directly serving more than 40,000 merchant customers and offering customers an end-to-end payment solution, including card acceptance devices, software, services and processing.
Sektor Payments, which will operate as VeriFone New Zealand, is the exclusive VeriFone distributor in New Zealand with the largest reseller network that provides VeriFone payment solutions to merchants.
“These acquisitions reflect VeriFone’s commitment to the New Zealand market,” said Anthony Chalhoub, general manager, Australia and New Zealand, for VeriFone. “VeriFone’s presence in the country will allow our customers and distribution partners to benefit from greater access to VeriFone’s expertise, advanced solutions and services that add value to both merchants and consumers.”
Both organizations will directly leverage VeriFone’s global resources and extensive portfolio of payment products and services. As a global supplier of payment solutions, VeriFone operates in more than 110 countries with a worldwide workforce of more than 5,000 employees. VeriFone payment solutions are designed to meet the needs of merchants, processors, banks and acquirers in both developed and emerging economies worldwide.
About VeriFone Systems, Inc. – PAY
VeriFone Systems, Inc. (PAY) is the global leader in secure electronic payment solutions. PAY provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. PAY solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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