Cards Briefs: U.K. Check Guarantor Now 100% Equifax's

Equifax Inc. has bought the remaining interest in Transax PLC, the London-based check guarantee company.

Transax - which has operations in the United Kingdom, Ireland, France, New Zealand, and Australia - will become a division of Equifax Europe and will be headed by group director Nick Bevan. Mr. Bevan succeeds Craig Walsh, who is chief executive of Transax, one of its founders, and a primary shareholder. Mr. Walsh is retiring.

Terms of the deal were not disclosed.

In 1992, Equifax acquired a 20% interest in Transax. Two years later, it increased its holdings to 51% and the latest acquisition brings Equifax's ownership to 100%.

Equifax also hired Marc Wood, a former banking consultant with United Kingdom-based Cardforce, as the managing director of Transax.

In related news, Equifax won the contract to provide credit card processing to the Industrial and Commercial Bank of Beijing. An Equifax subsidiary, FBS Software, will provide the software system.

The partnership marks Equifax's debut in China and ICBC's introduction to credit cards.

ICBC has more than 20,000 branch offices in China. Including China, Equifax now has operations in 36 countries.