French payments provider Ingenico Group has agreed to acquire Paymark, a New Zealand-based payment network, for NZD 190m ($138m) from its bank shareholders ANZ, ASB, BNZ and Westpac.

Auckland-based Paymark is connected to all key card issuers and merchant acquirers and to over 80,000 merchants. The firm processes more than 1 billion transactions annually.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Paymark will become part of Ingenico’s banks & acquirers business division following the completion of the deal.

Ingenico EVP of banks and acquirers business unit Patrice Le Marre said: “The acquisition of Paymark represents a great addition to the company’s portfolio and is fully aligned with Ingenico Group’s strategy to provide payment solutions and services across all channels. It is a strong springboard to deploy that strategy in the Pacific region.

“We will continue to invest in Paymark in order to keep providing the best payment solutions to serve our customers including ANZ, ASB, BNZ and Westpac, with whom we have built strong relationships in the region.”

The deal is expected to be wrapped up in the second quarter of 2018, subject to regulatory approval.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

By integrating its terminals assets with Paymark and Bambora in the Pacific region, Ingenico aims to offer New Zealand retailers and financial institutions a complete suite of omnichannel services including POS and terminal management, in-store and online processing capabilities as well as valued-added services.

Ingenico acquired Swedish payments provider Bambora for €1.5bn in November last year.