ANZ and Worldline Set Up JV to Provide Payments Technology in Australia

Australia and New Zealand Banking Group Limited (ANZ) today announced that it will set up a joint-venture with European-based payments leader Worldline to provide its small business, commercial and institutional customers in Australia with access to the latest technology for fast, reliable and more secure point-of-sale and online payments. 

Worldline is the largest European player in payment services with a presence in 50 countries. It currently provides acquiring, payment processing, point-of-sale and other payment solutions to one million merchants and 1,200 banks and financial institutions globally. 

The joint venture arrangement involves ANZ and Worldline forming a newly created merchant acquiring group, with ANZ and Worldline holding a 49% and 51% interest respectively. 

ANZ estimates completion of the transaction will increase its Level 2 CET1 capital ratio by ~5 basis points1. The transaction is expected to be completed in late 2021 and is subject to regulatory and other approvals and card scheme arrangements.

ANZ Group Executive Australia Retail and Commercial, Mark Hand said: "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. The partnership also responds to the fast-changing way that consumers want to pay for goods and services, particularly in a post-COVID environment." 

Worldline Chairman and Chief Executive Officer, Gilles Grapinet added: "The strategic alliance with ANZ is a landmark transaction for Worldline. In a rapidly changing industry Worldline will be at ANZ’s side to leverage focused technical capabilities to provide the best customer proposition and user experience across all segments. Our long-term and exclusive joint venture is based on our shared vision to deliver value added merchant acquiring products and services in Australia."