Cuscal agreed on 14 April to acquire Paymark, which trades as Worldline New Zealand, from Worldline for A$27m in cash, giving the Australian payments infrastructure provider a significant position across the Tasman.
Why Cuscal Limited is buying Paymark Limited (Worldline New Zealand)
Cuscal said Paymark is a leading New Zealand payments service provider with operations similar to its own Australian acquiring and switching businesses and a key part of New Zealand's payments system. It expects the deal to be mid-single-digit accretive to earnings per share in FY27 and to deliver a mid-teens return on invested capital.
Deal terms and financing
The consideration is funded by a fully underwritten A$30m placement and a share purchase plan of up to A$3m to cover costs. Paymark has begun an upgrade of its switch technology, costing about A$21m to FY30, which Cuscal expects Paymark to fund itself.
Regulatory approvals and timing
The deal required a French works council consultation, confirmed complete on 24 April, and Worldline's exercise of a put option. Cuscal announced completion on 29 May 2026.
Market context
Cuscal, formed in 1966 to serve Australia's mutual banking organisations, is an authorised deposit-taking institution. Worldline, which also agreed in April to sell its 51% stake in the ANZ Worldline venture to ANZ, has been divesting assets.
