Worldline, a global leader in the payments industry, today announced the completion of the acquisition of a controlling stake in the commercial acquiring business of ANZ and the creation of a 51%-49% joint-venture controlled by Worldline to operate and develop commercial acquiring services in Australia with ANZ Bank.

Australia is a highly attractive and strategic market for Worldline with favorable dynamics, a sizable and growing addressable market and a high level of readiness and receptiveness towards cashless payment methods. Furthermore, with a cash penetration still high, the Australian market offers an attractive growth opportunity driven by the shift from cash to card.

The new joint-venture is a unique opportunity for Worldline to significantly expand its merchant acquiring business outside of Europe, with direct access to an existing and high quality merchants’ portfolio, and at the same time to generate significant synergies due to enhanced scale by leveraging the Group’s payment technologies.

The combination of ANZ’s strong market position and Worldline’s global scale, best-in-class technologies and payment expertise will allow the alliance to grow revenue at a double-digit rate in the coming years. This accelerated growth rate will be delivered through cross and up-sell opportunities based on innovative solutions such as digital onboarding, Alternative Payment Methods (APM), fraud detection, online and omnichannel capabilities, while leveraging the existing merchant portfolio.