Cuscal Completes Acquisition of Indue Limited – A New Era for Payments Innovation

Sydney, 1 December 2025

Cuscal Limited (ASX: CCL) today proudly announced the successful completion of its acquisition of Indue Limited (Indue), (the Acquisition), marking a transformative milestone in Australia’s payments industry. This strategic transaction unites two culturally aligned businesses with a strong heritage in the mutual banking sector and a shared commitment to innovation, resilience, and operational excellence.

Why This Matters
The Acquisition strengthens Cuscal’s position as a leading payments and regulated data services provider, enabling further diversification and a stronger growth trajectory. Together, Cuscal and Indue will deliver enhanced capabilities across digital banking, fraud monitoring, switching, and regulated data services, empowering financial institutions, fintechs, and corporates to thrive in a rapidly evolving market.

Craig Kennedy, Managing Director of Cuscal, said:

“The Acquisition is a highly compelling and strategic transaction that marks a significant milestone in Cuscal’s growth journey. It will deliver substantial returns for our shareholders and enhanced outcomes for our clients via greater resilience, operational efficiencies, and innovation at scale. We are delighted to welcome the Indue team and look forward to building on our combined strengths.”

Benefits for Clients and Partners

• Enhanced product and service offerings: operational efficiencies and innovation at scale. 
• Improved resilience: across capital and capabilities that better positions the combined business to respond to heightened regulatory standards, complexity, and cost.
• Increased investment capacity: that will enable greater innovation and investment in best-of-breed resources and capabilities to continue to deliver services both now and into the future. 

Cuscal has significant expertise in integrations and large-scale client migrations, and we’re committed to making the transition smooth for all our clients and partners, with uninterrupted service.

We’re excited about the future we’re building together, strengthening payments and regulated data services while ensuring Australians can bank with the institutions they know and trust.

Better Together
The Acquisition is an important step in Cuscal’s growth journey. By combining strengths, we will help more Australians access fast, secure, and innovative payment and regulated data services, ensuring they can bank and transact with the institutions they know and trust.

About Cuscal
Cuscal is a leading payments and regulated data services provider, connecting banks, fintechs, and corporates to Australia’s payments infrastructure since 1966. Our mission is to partner with forward-thinking businesses to deliver innovative and secure payment solutions that drive growth in the economy.

Media Contact: mediaenquiries@cuscal.com.au.