Bidvest enters the business banking arena


Bidvest’s recent acquisition of First Data Resources South Africa (FDRSA) will catapult it into South Africa’s world of business banking – a market currently dominated by FNB, Nedbank and Standard Bank.

According to Japie van Niekerk (pictured), Bidvest Bank MD, through the acquisition Bidvest will be able to offer a new range of merchant services to businesses.

Although payment company First Data, which currently services some 4,000 financial institutions globally, already had an operating agreement with Bidvest, the acquisition brings with it an exclusive decade-long licence agreement.

The name of the new company will be Bidvest Merchant Services.

Related articles

CFO Jan Hofmeyr shares his blueprint for technological transformation

Passionate about the opportunity technology can bring, 2023 Finance & Technology Award winner Jan Hofmeyr has been breaking the CFO mould at OUTsurance by driving the transformation of its finance department so it remains relevant in an increasingly digital future. He reveals how this change has affected the entire business.

CFOs unpack ESG, tech and teamwork in CFO Day Survey

In what has become a tradition, South Africa’s top finance leaders completed the CFO Survey at this year’s annual CFO Day on 5 July. The results are unpacked in this CFO Magazine special feature.