Global payment giant sees rationalisation ahead in Australian market
Australian payments lag leading markets globally. French payments giant Worldline says there are opportunities to rationalise and to scale.
John Collins is Chief Product Officer for ANZ Worldline Payment Solutions, a joint venture between ANZ and global payments and transaction giant Worldline. ANZ Worldline was formed when the French group bought 51% of ANZ’s merchant acquiring business in 2022.
Payment card issuing and acquiring have historically been a core business of major banks and ANZ’s decision to divest was seen as a major departure from the philosophy that big banks should own and operate the key parts of their business.
How is the ANZ partnership travelling? Have you been adjusting the model, and become aware of different opportunities or challenges?
ANZ and Worldline share fundamental values and principles, so there has been a natural fit culturally, which has helped enormously. We’ve made really good progress so far, and I’m pleased to say we’ve met several milestones in the timeframe we set out to meet them.
