By Alice Uribe 

SYDNEY--Australia and New Zealand Banking Group Ltd. has formed a joint venture with European payments company Worldline to provide payments technology and merchant services in Australia.

The Australian bank said Tuesday the tieup involves the formation of a newly created merchant acquiring group, with ANZ and Worldline holding a 49% and 51% interests, respectively.

"We have a proven track record of partnering with global leaders in specialist fields if it means providing a better service to our customers," said Mark Hand, ANZ Executive Australia Retail and Commercial.

ANZ estimated that completion of the transaction will increase its Level 2 CET1 capital ratio by 5 basis points. The transaction is expected to complete in late 2021 and is subject to approvals and card scheme arrangements.


Write to Alice Uribe at


(END) Dow Jones Newswires

December 14, 2020 17:06 ET (22:06 GMT)

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