Worldline divests New Zealand activities (Paymark) to Cuscal for €17M; combined disposal proceeds estimated at €560-610M

On 14 April 2026, Worldline announced exclusive negotiations with Cuscal Ltd (ASX:CCL) for the sale of its New Zealand payment activities (Paymark) for an enterprise value of c.€17M (A$27M). The NZ business processes ~70% of all in-store transactions, serves all four major NZ acquirers and ~40 issuers, and generated revenue of c.€35M and adjusted EBITDA of c.€12M. Cuscal will revive the Paymark brand and operate it as a standalone business.

Closing expected Q2 2026, subject to French Works Council consultation. Combined net cash proceeds from all announced disposals (MeTS, NA, Cetrel, PaymentIQ, India, NZ) now estimated at €560-610M for 2026.

Continued execution of the pruning programme — six divestments now committed. The €17M valuation is striking given Ingenico paid $190M for Paymark in 2018-19, illustrating the value destruction across Worldline's non-European acquisitions. The combined €560-610M proceeds materially strengthens Worldline's balance sheet alongside the €500M capital raise.

For Ingenico, the NZ exit removes another Worldline-controlled terminal estate from the addressable footprint. Cuscal's revival of the Paymark brand may signal a new procurement strategy in NZ.

Monitor MeTS disposal (last remaining major asset, expected Q2 2026) for closure of the pruning programme. Track Cuscal's post-acquisition vendor strategy in NZ — whether they retain Ingenico-supplied terminals or open the estate to alternatives.

• globenewswire.com