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Monday, 03 February 2020 23:15

Verifone NZ seeks clearance for Smartpay acquisition Featured

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New Zealand competition regulator The Commerce Commission has received a clearance application from payments terminals provider Verifone New Zealand to acquire the assets used by Smartpay Holdings and its subsidiaries to operate the Smartpay business in New Zealand.

Verifone, through its subsidiary Eftpos New Zealand, supplies terminals directly to merchants under the EFTPOS brand.

And Verifone also supplies payment terminals to resellers on a wholesale basis, as well as payment processing services.

The parent company of Verifone New Zealand, Verifone Inc is a global manufacturer and supplier of terminals and payment processing services - and Smartpay is also a supplier of payment terminals to merchants in New Zealand.

A public version of the clearance application will be available shortly on the Commission’s case register.

Smartpay Holdings announced in November it would sell its New Zealand business and assets to US payment terminal business Verifone Inc for NZ$70 million.

 

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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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