US firm buys Eftpos New Zealand from ANZ

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New York stock exchange-listed VeriFone Systems has spent $NZ70 million ($A59.13 million) to snap up ANZ New Zealand Bank’s eftpos terminal leasing unit as part of a bigger push into the local market.

The California-based company completed the acquisition of Eftpos New Zealand this week, and disclosed the size of the deal in its first-half earnings result.

The deal makes VeriFone the biggest eftpos solutions and payments provider in New Zealand, and follows its $US8.2 million ($A8.64 million) acquisition of Sektor Group’s local payments operation in December.

The two deals “provide us with the software, services infrastructure and distribution resources necessary to serve New Zealand with both electronic payment solutions and managed services,” VeriFone said in its report.

VeriFone incorporated a local company in November last year, and holds an 18 per cent stake in mobile financial services software maker, Mobilis Networks, via a Bermuda-based limited partnership, according to Companies Office records.

Earlier this week, Anthony Chalhoub, VeriFone Australia and New Zealand general manager, said the company’s local presence “reflects the importance and opportunities of the expanding electronic payments market in the country”.

The global payments firm reported a net loss of $US46.5m in the six months ended April 30, with a 4.1 per cent fall in sales to $US855m.