First Data Corp. has announced
that it is acquiring CashCard Australia.
"Today's announcement is exciting as we believe this transaction will offer a significant range of benefits to our many clients," commented Greg Nash, managing director of First Data International Australia, New Zealand and South Asia operations.
"We believe the combined EFT switching and processing lines of business will provide the scale necessary to ensure the merged enterprise will remain cost effective, technology efficient and people-smart in this rapidly changing marketplace, leading to the development of even more competitive products and services."
Founded in 1983 by Australian Building Societies to build and operate a shared ATM network, Cashcard now provides a range of services to other major financial institutions and retailers, as well as operating a large Merchant ATM acquiring network.