Nova to buy Bank Zachodni WBK's CardPoint business
23 April 2004 | 4716 views | 0
Bank Zachodni WBK (BZWBK), the Polish subsidiary of Allied Irish Bank, has sold its payments processing business, CardPoint, to Nova Information Systems, part of US Bancorp.
Financial terms of the deal were not disclosed.
BZWBK says its merchant services business, which was established in 1998, currently has 15% of the market share in Poland.
Under the agreement, Nova will provide CardPoint's existing merchant customers with processing services through its Ireland-based affiliate, euroConex.
Billy Saunderson, CEO, euroConex, says the deal will enable CardPoint merchants "to take advantage of enhanced service levels, as well as supporting multi-currency solutions including dynamic currency conversion".
Nova also signed a long-term marketing agreement with Bank Zachodni, which will result in marketing services referrals through the Polish bank's 400 branches.