Worldline announces the completion of the agreement with Komercni banka in Commercial Acquiring
Bezons, September 30th, 2016 – Worldline [Euronext: WLN], European leader in the payments and transactional services industry, today announced the completion of the agreement with Komercni banka (KB), subsidiary of the Société Générale group and one of the leading banks in the Czech Republic, to further develop product and services for the Czech merchants.
Under the terms of the agreement, Worldline has acquired, as a first stage, 80% of Cataps s.r.o. (“Cataps”), a 100% subsidiary of the Komercní banka banking group, based on an enterprise value of € 34 million for 100%. Cataps was established in 2014 and has assumed activities of Komercni banka in credit and debit card payment processing services (merchant acquiring).
As part of this agreement, Worldline and Komercni banka have in addition signed an 10 year commercial alliance for the development and the growth of these activities in the Czech Republic.
Marc-Henri Desportes, General Manager at Worldline said: “Komercni banka and Worldline have both been providing payment services and innovative solutions to the European market over several decades. At Worldline, we are now delighted to welcome this new alliance with Komercni banka, a renowned market leader in the Czech Republic, which will bring the best assets of the two partners to the retailer community, adding our rich payment and digital retail product portfolio and scalable processing systems to the wide distribution network of Komercni banka, in order to satisfy the fast growing demand of Czech merchants for electronic payments equipment and associated services.”
Albert Le Dirac’h, Chief Executive Director of Komercni banka added: “The requirements of clients for services of merchant acquiring and for integration of the related information with their own business and financial data management systems have been rapidly advancing. In alliance with Worldline, the European leader in electronic payments, we will together be able to offer merchants the most advanced and innovative services and products in this area. The cooperation with Worldline brought already in August the first fruit to KB’s clients, MojeMobilni karta (MyMobile card) – a modern method of contactless payments via mobile phone using the Host Card Emulation technology.”
Cataps will be consolidated in the Merchant Services & Terminals division of Worldline from October 1st, 2016.
Worldline [Euronext: WLN] is the European leader in the payments and transactional services industry. Worldline delivers new-generation services, enabling its customers to offer smooth and innovative solutions to the end consumer. Key actor for B2B2C industries, with over 40 years of experience, Worldline supports and contributes to the success of all businesses and administrative services in a perpetually evolving market. Worldline offers a unique and flexible business model built around a global and growing portfolio, thus enabling end-to-end support. Worldline activities are organized around three axes: Merchant Services & Terminals, Mobility & e-Transactional Services, Financial Processing & Software Licensing. Worldline employs more than 7,300 people worldwide and generated 1.22 billion euros revenues in 2015. Worldline is an Atos company. worldline.com
About Komercni banka
Komercni banka is one of the best run universal banks in Central Europe. It provides comprehensive services to clients in the areas of retail, corporate and investment banking. The Komercni banka Group’s 8,434 employees serve 2.4 million clients, who can use an extensive network of 396 business points throughout the country. Komercni banka currently operates 773 ATMs and 1.4 million of its clients use one of direct banking channels. Komercni banka is a part of the Société Générale Group.