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Ingenico acquires New Zealand payment processor Paymark

Ingenico Group announced on January 17th the signing of an agreement to acquire Paymark, a leading New Zealand payment network, for a global consideration of NZD 190 million (USD 137 million).

Auckland-based Paymark processes over 1 billion transactions annually for its network of more than 80 000 merchants.

Ingenico will be reinforcing its presence in the Pacific region. “Building on the recent acquisition of Bambora, Ingenico will now be able to expand its offering in New Zealand, delivering services and solutions in all areas of payments for small and large businesses and financial institutions alike” said Dominic White, VP Pacific Region for Ingenico Group. The company is looking forward to offer a complete omnichannel offering including POS and terminal management, in-store and online processing capabilities and valued-added services such as analytics and loyalty to kiwi retailers and financial institutions.

Closing is expected to occur during the second quarter of 2018. Paymark will be integrated within the Banks & Acquirers business unit.