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First Data completes Cashcard acquisition

15 April 2004  |  4230 views  |  0 First Data completes Cashcard acquisition

First Data has completed its acquisition of Australian cash machine operator Cashcard. Financial terms of the transaction were not disclosed.

First Data said in December 2003 that it intended buy the Australian firm. Cashcard shareholders voted to approve the acquisition in March.

First Data has now merged Cashcard's operations with its own business in Australia and says the combined entity will process more than one billion electronic payment transactions per year and operate over 8000 ATMs across the country.

Pam Patsley, president, First Data, says: "The addition of Cashcard to First Data strengthens our position in the Australia and Asia Pacific markets."

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