First Data, a global electronic commerce and payment processing services firm, has signed an agreement with Mvelaserve, a Mvelaphanda group company and Industrial Electronics Investment, a company of VenFin Beperk, to acquire CashAxcess, a South African ATM deployment company.
Reportedly, CashAxcess provides end-to-end, outsourced ATM services to banks in the region, with 200 ATMs currently deployed. CashAxcess also offers 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 and training services.
George Zafirakis, vice president with responsibility for First Data’s international emerging markets, said: “The combination of their considerable ATM expertise and knowledge of the local business environment coupled with First Data’s scale and global experience will ensure we can deliver an enhanced service to clients in South Africa.”
