The break-up of the payments business of First Data Resources in Australia may be on the cards.FDR has investment bank UBS seeking offers for the automatic teller machine business of First Data. An information memorandum on the sale of this business may reach prospective purchasers in the next week, though prospective bank buyers may already have been approached.Whether the switching and ancillary businesses of FDR are on the market is less clear.The ATM business is largely the Cashcard ATM fleet purchased by FDR in mid 2004.How much FDR finally paid for Cashcard in 2004 isn't clear, but presumably the maximum $259 million (rather than the minimum $228 million) disclosed in the shareholder documents circulated prior to the sale in early 2004.The financial disclosures by First Data for its Australian businesses don't provide a consolidated view of how the firm's portfolio of businesses is travelling.First Data Resources Investments - which is the head entity for tax purposes - reported a net profit of $2.0 million in the year to December 2006 on revenues of $89 million.First Data Corporation Australia (Holdings) - which appears to include the Cashcard, other ATM and merchant acquiring business operated on behalf of BankWest - reported a net profit of $27.0 million on revenues of $160 million in 2006.All the goodwill from First Data's acquisitions over the years is packed into the balance sheet of the latter entity. Total assets of $402 million include $313 million in intangibles, the bulk of which may relate to the 2004 takeover of Cashcard.This second entity is also packed with $220 million in debt owed to other entities within FDR.The intangibles include $155 million in goodwill, $53 million in contract valuations, $26 million in the Cashcard trade name, another $1 million in the Direct Cash trade name and another $17 million in assets relating to the takeover of BankWest's merchant acquiring business in 2005.The assets of First Data Resources worldwide are under review following the highly leveraged takeover of FDR by Kohlberg Kravis Roberts and associated funds in early 2007. The KKR buyout of FDR was one of the last aggressively-priced, aggressively-funded takeovers of the private equity boom. Syndicated debt in FDR has, like a lot of other late-cycle syndicated debt, sold at a discount in the secondary market since the credit crunch hit. KKR has also deferred repayments on some FDR-related loans in recent weeks.As a result the KKR review of the FDR portfolio of businesses (and of which Australia is a minor part) may be increasingly pressing, including the option to release cash by selling assets.Almost any bank is a prospective buyer (though St George and Bank of Queensland and Macquarie Bank have all sold ATM fleets in recent years and most of the majors have thought about doing so). Private equity investors might be keen. Either of the two listed owners of ATM fleets, Customers Limited (partly run by former Cashcard managers) and ICash (a newcomer to the scene, and formerly Australian Concert Entertainments) might also be buyers