Subscribe & Follow

Advertise your job vacancies

Spark ATM Systems buys CashAxcess ATMs

20 Feb 2013

CashAxcess, a subsidiary of global payment processing company First Data Corporation, has sold its 91 ATM sites located in the retail, leisure and hospitality sectors nationwide to Spark ATM Systems. This acquisition consolidates Spark's position as the leading independent ATM deployer in 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 2000 ATMs across the country since its launch in 2006.

"The acquisition complements the strong organic growth we are experiencing, with average monthly installations of 50 - 70 ATMs across the country. We are confident that clients in the newly acquired ATM sites will benefit from our national support structures, customer service levels and ATM hardware and technology platforms."

Peter Matassa, director client services, Middle East and Africa at First Data Corporation says that the sale of the ATM network forms part of the company'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," concludes Sternberg.

For more information, go to www.sparkatm.co.za.