News

DirectCash completes Customers acquisition

July 6, 2012

Canada-based IAD DirectCash Payments Inc. announced this week that it has successfully completed its acquisition of Customers Limited. Customers is Australia's largest independent operator of ATMs with over 6,600 installations in Australia and New Zealand.

"We are excited about the opportunity to expand our presence in the Australian and New Zealand markets, which are less mature than the Canadian market," said Jeff Smith, president and CEO of DirectCash. "This transaction positions DirectCash as one of the largest, publicly traded, branded ATM providers in the world with approximately 18,900 active ATM sites and operations in Canada, Australia, New Zealand, Mexico, the United Kingdom and the United States,"

Customers operates Australia's largest fleet of ATMs, which are contracted to merchants. The company operates ATMs for Bank of Queensland and Coles Express, while also carrying a range of bank brands on selected terminals, including Citibank, Bendigo and Adelaide Bank, and Arab Bank of Australia, as well as its own convenience brands. Customers is also the majority shareholder of New Zealand ATM Services Ltd.

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