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Global Payments reports card processing deal with Sarajevo-based Vaba Bank

24 May 2007  |  1749 views  |  0 Source: Global Payments

Global Payments (NYSE: GPN), a world leader in electronic transaction processing services, announced today that its Sarajevo-based, wholly-owned subsidiary, Global Payments Europe d.o.o. Sarajevo, has reached a five-year agreement to provide comprehensive payment card processing services to VABA Bank dd, Sarajevo.

Global Payments Europe d.o.o. Sarajevo will provide the bank with a complete array of card processing services including authorization, card management, fraud monitoring and prevention, card personalization and Point of Sale (POS) terminal network management.

Ismet Kumalic, senior executive of VABA Bank dd, Sarajevo, said, "With Global Payments we have a recognized partner with worldwide references and a reputation for providing high quality services. Global Payments' strong regional presence and experience in the card business is a great competitive advantage for us. Global's expertise will help us create added value for the Bank and our clients. We see this agreement as an important part of our business success in this dynamic market."

"We are very pleased to announce our agreement with VABA Bank, which represents the first agreement with a new banking client signed to retain our services since Global Payments acquired the assets of Diginet d.o.o. The card market is undergoing dynamic growth and development in Southeast Europe and Global Payments Europe d.o.o. Sarajevo is committed to providing financial institutions with the highest quality processing products and services to meet these challenges, backed by Global Payments' 40 plus years of card market expertise," said Mustafa Bektic CEO of Global Payments Europe d.o.o. Sarajevo.

VABA Bank dd, Sarajevo is a newly established bank in Bosnia Herzegovina, after its parent bank, VABA Banka, Varazdin, Croatia, acquired the assets of Ljubljanska banka, Sarajevo.

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