ANZ has announced the launch of ANZ Worldline Payment Solutions, a joint venture with European payments provider Worldline. This partnership aims to offer advanced point-of-sale and online payment technology to ANZ Australia's small business, commercial, and institutional customers.
The newly established merchant acquiring group was initially announced in December 2020. ANZ holds a 49% interest in the venture, while Worldline holds a 51% stake.
The transaction involves the sale of ANZ's Merchant Acquiring Business (MAB) to the joint venture. This move is expected to provide ANZ with approximately eight basis points of Level 2 Group CET1 capital. According to a previous news release from December 15, 2020, "the final gain on sale is expected to be ~$320m and remains subject to closing adjustments." The impact on profit and loss will be reflected in ANZ's Cash Profit for the first half of 2022 as a large or notable item.