SIA-SSB has signed a framework agreement with Volksbank International (VBI), a part of the fourth largest banking group in Austria, to provide issuing and acquiring service for the complete management of payment cards, ATM and POS in nine Central and Eastern European countries.
Under the terms of the five-year deal, SIA-SSB's centralised technology platform will be used to manage debit and credit card processing at 600 sales outlets in Slovakia, Czech Republic, Hungary , Romania, Slovenia, Croatia, Bosnia-Herzegovina, Serbiaand Ukraine
Magyarországi Volksbank in Hungary and Volksbank Romania will be the first banks in the Austrian VBI Group to adopt the new platform for the management of the entire authorisation, clearing and settlement process
Michel Ivanovsky, member of the managing board and COO of VBI comments: "We will make a big step forward with this new infrastructure."
The vendor says adoption of a single, centralised platform by the group will enable improved "time to market" in international expansion as well as the rationalisation of IT systems and cost reductions from scale economies.