Verifone seeks clearance to acquire Smartpay

The Commerce Commission has received a clearance application from Verifone New Zealand to acquire the assets used by Smartpay Holdings Limited and its subsidiaries to operate the Smartpay business in New Zealand.

Verifone, through its subsidiary Eftpos New Zealand Limited, supplies terminals directly to merchants under the EFTPOS brand. It also supplies payment terminals to resellers on a wholesale basis and provides payment processing services. The parent company of Verifone New Zealand, Verifone, Inc., is a global manufacturer and supplier of terminals and payment processing services.

Smartpay is also a supplier of payment terminals to merchants in New Zealand.

A public version of the clearance application will be available shortly on the Commission’s case register.

Background

We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.

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