SIA-SSB, a technical provider for payment services, has signed a five year agreement with option to extend with Volksbank International (VBI), a banking group based in Austria. As per the agreement SIA_SSB provides issuing and acquiring service for the complete management of credit and debit in nine Central and Eastern European countries (Slovakia, Czech Republic, Hungary, Slovenia, Croatia, Romania, Bosnia-Herzegovina, Serbia and Ukraine) through a single centralized platform.
It has reported that it will be able to manage the entire authorization process for all types of cards issued, clearing and settlement services, anti-fraud monitoring, ATM and POS terminals and other value-added services for Volksbank International’s credit institutions, subscribing merchants and national and international networks. The 600 outlets in the VBI network will be able to use SIA-SSB’s technology infrastructure to manage operations relating to payments carried out with credit and debit cards.
It added that the flexibility of SIA-SSB’s infrastructure will enable complete integration between the VBI bank’s branches present in nine European countries through the use technological solutions customized according to national requirements and at the same time, expansion of the card offering portfolio.
Michel Ivanovsky, member of managing board and COO of VBI, said: Magyarországi Volksbank in Hungary and Volksbank Romania are the first VBI banks at pan-European level to have chosen to use the innovative services developed by SIA-SSB for the international financial system.”
