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First Data acquires South African ATM deployment company CashAxcess

Thursday 20 August 2009 10:58 CET | News

US e-commerce and payment processing services company First Data has entered an agreement with South African companies Mvelaserve and Industrial Electronics Investment Limited to acquire CashAxcess, a South African ATM deployment company.

CashAxcess provides outsourced ATM services to some of banks in the region and has around 200 ATMs currently deployed. CashAxcess also provides a range of ATM products and services to the corporate and retail market, including ATM delivery and installation, signage, wireless GPRS communication, cash management and replenishment services, ATM monitoring, equipment insurance, sales and marketing as well as training services.

In the wake of the acquisition, First Data is planning to expand its operations into ATM outsourcing, a sector which the company regards as a growth area within the South African payments market.

First Data operates a global ATM business with networks in the United States, Asia Pacific and across Europe. Additionally, the company offers ATM outsourcing and deployment solutions for banks and retailers in over 17 countries around the globe.


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Keywords: First Data, ATM deployment company, CashAxcess, outsourced ATM services
Categories: Payments & Commerce
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Countries: World
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