SEB Kort extends EDB card processing deal

Source: EDB in Sweden

SEB Kort and EDB's subsidiary CEKAB have entered into an agreement for the supply of card services for SEB Kort's activities in Sweden.

The agreement means that CEKAB will continue to be responsible for processing all card transactions carried out through payment terminals used by SEB's customers in Sweden. The agreement is an extension of an existing contract, and runs for two years with total contract value of SEK 20 million.

"CEKAB fully recognizes the importance of ensuring the highest quality of service and availability for the services it offers. CEKAB has provided its services to SEB for over 10 years. We are very proud that the bank has chosen to renew its contract for a further two years, and we see this as confirmation of the continuing quality of the service we deliver. In addition, we are now focusing on how we can help our customers with processing transactions in countries outside Sweden", comments Eva Menzing, Managing Director of CEKAB.

CEKAB is one of the leading players in the Nordic card services market. EDB and CEKAB's strategy is to follow its customers' business throughout the Nordic region, the Baltic states and the rest of Europe.

"We have had contracts with both CEKAB and EDB for card authorisation and capture of card transactions for many years, and our experience of both companies has been good. We are now able to bring these services together from a single supplier", explains Christina Larsson, business area manager of Euroline, the acquiring arm of SEB Kort.

About the services
The contract gives CEKAB responsibility for operating transaction authorisation and capture of card transactions carried out through payment terminals, known as Point of Sale (POS) transactions.

About the contract
The contract represents an extension of an existing agreement between SEB Kort and CEKAB, and runs for two years with total contract value of SEK 20 million.

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