First Data expands its business in South Africa buying CashAxcess

As it became known Tuesday, First Data bought CashAxcess, leading provider of end-to-end, outsourced ATM services to banks in South Africa, such as Mercantile, Capitec and ABSA, signing up an agreement with Mvelaserve Limited.

CashAxcess also supplies corporate and retail market with a range of ATM products and services, 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, stated that company is delighted to welcome the CashAxcess team into the First Data family as the combination of their considerable ATM expertise and knowledge of the local business environment coupled with First Data's scale and global experience will enhance service provided for South African customers.

CashAxcess has operated in South Africa since 2005. First Data entered South Africa market in 1993 offering a full range of payment services to leading banks and retailers.