21 August 2017
visit www.avoka.com

Equens buys Commerzbank card unit montrada

07 September 2010  |  8398 views  |  0 card chip

Commerzbank has agreed to sell montrada, its German card acquiring and network service provider, to Equens. Financial terms of the deal were not disclosed.

Montrada and its subsidiary BD-POS are based near Frankfurt, employing 60 staff, whose positions are unaffected by the acquisition, which is expected to be finalised in the next few weeks subject to regulatory approval

Commerzbank and Equens have also agreed on a five-year exclusive sales partnership for card-aided payment transaction products including the processing of cash withdrawals from ATMs for Mastercard and Visa cardholders.

Equens says the acquisition will help it expand its footprint in the European card processing market beyond its traditional strongholds of the Netherlands and Italy.

Michael Steinbach, chairman, Equens, says: "The acquisition of montrada is a very important strategic step for us in further expanding our card activities and services in Europe. montrada's strong presence in the German cards market, combined with their highly skilled employees and the extensive cooperation agreement with Commerzbank, will allow us to take advantage of the enormous opportunities in the cards market in Germany and abroad."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Credit Agricole and Equens in payment processing 'merger' talks

Credit Agricole and Equens in payment processing 'merger' talks

25 November 2009  |  13130 views  |  0 comments
SEB outsources Sepa direct debits processing to Equens

SEB outsources Sepa direct debits processing to Equens

19 February 2009  |  8726 views  |  0 comments
Commerzbank and G&D sign three year card deal

Commerzbank and G&D sign three year card deal

13 November 2008  |  8211 views  |  0 comments
Equens and VocaLink establish Sepa interoperability

Equens and VocaLink establish Sepa interoperability

09 September 2008  |  9554 views  |  0 comments

Related company news

 

Related company information

equensWorldline SE

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.niceactimize.com

Who is commenting?

A Finextra member Finextra Member Commented on: Real-time payments in...
A Finextra member Finextra Member Commented on: Barclays uses sensors...

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
11607 views comments | 26 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
9936 views comments | 22 tweets | 31 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9693 views 0 | 5 tweets | 1 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
9400 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
9366 views comments | 10 tweets | 8 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job