Spark ATM Systems has acquired the ATM estate of CashAxcess, a subsidiary of global payment processing company First Data.
The ATM estate was purchased by Spark ATM Systems for an undisclosed amount, and consists of 91 ATM sites located in the retail, leisure and hospitality sectors around South Africa.
According to Marc Sternberg, MD of Spark ATM Systems, the acquisition is in line with the company’s overall growth strategy, which has seen it deploy over 2 000 ATMs across the country since its launch in 2006.
“The CashAxcess acquisition complements the strong organic growth we are experiencing, with average monthly installations of 50 to 70 ATMs across the country,” he says.
“We are confident that clients in the newly acquired ATM sites will benefit from our advanced national support structures, renowned customer service levels and industry-leading ATM hardware and technology platforms.”
Peter Matassa, director of client services: Middle East and Africa at First Data, says that the sale of the CashAxcess ATM network forms part of First Data’s strategic realignment of its southern African operations.
According to latest data by MasterCard, approximately 85% of transactions are still conducted in cash worldwide.
“Access to cash plays an integral role in South Africa’s economy and will remain so for many years to come. The ATM deployment industry is thus thriving and we are well placed to meet this growing demand,” says Sternberg.