ANZ has announced a joint venture with Worldline, a European payments leader, to offer advanced payment technology to its Australian customers. This collaboration aims to enhance the speed and security of point-of-sale and online payments for small businesses, commercial entities, and institutions.
Worldline operates in 50 countries and provides services to one million merchants globally. ANZ Group Executive Australia Retail and Commercial, Mark Hand stated, “We have a proven track-record of partnering with global leaders in specialist fields if it means providing a better service to our customers."
Hand emphasized the importance of fast and secure payments for business success. He noted that this partnership would give ANZ's customers access to advanced payment technologies and future innovations. "The partnership also responds to the fast-changing way that consumers want to pay for goods and services," he added.
Gilles Grapinet, Worldline Chairman and CEO, described the alliance as a landmark transaction. "In a rapidly changing industry Worldline will be at ANZ’s side," Grapinet said. He expressed enthusiasm about combining Worldline’s technologies with ANZ’s banking expertise.
The joint venture will form a new merchant acquiring group with ANZ holding 49% interest while Worldline holds 51%. The transaction is expected to conclude by late 2021 after receiving necessary approvals.
As part of this agreement, ANZ will refer new merchants exclusively to the joint venture for payment solutions while providing banking services. The strategic alliance is set for an initial term of ten years.
Worldline is recognized as Europe's leading provider in payments and transactional services. With over 20,000 employees worldwide, it offers various services including domestic and cross-border commercial acquiring both in-store and online.