Australian bank ANZ has taken full control of a joint venture it had set up with French payments firm Worldine in 2022.
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ANZ has agreed to acquire Worldine’s 51% share in the company for A$89m.
According to the bank, the move is consistent with its strategy to focus on payments and transaction banking.
“The ANZ 2030 strategy puts transaction banking at the centre of what we deliver to customers – whether it’s improving their experiences, offering them leading technologies and platforms, or keeping them safe,” said ANZ managing director, transaction banking, institutional, Lisa Vasic.
“This acquisition will allow us to strengthen our direct relationship with our customers and better meet our customer’s needs, as we continue to focus on providing our small business customers.”
Worldine announced in November that it was looking to raise $500m to finance an overhaul designed to restore cash flow generation.
The company saw its share price drop by more than 20% earilier in 2025 following allegations that the company had covered up client fraud in order to protect its revenue.
The transaction, which is subject to regulatory approval, is expected to be completed in the second half of the fiscal year for 2026.
