PolCard card merchant transaction company to develop abroad

APA - Austria Presse Agentur
25-04-2005, 14:03

Warsaw (Puls Biznesu) – PolCard, Poland’s biggest debit and credit card merchant transaction acquirer and processor company, plans to start operations abroad this year. ‘We want to offer card processing, settlement and issuing’, Adam Parafiniewicz, PolCard CEO said. The company considers two options: organic growth or acquisitions in the region.

Warsaw (Puls Biznesu) – PolCard, Poland’s biggest debit and credit card merchant transaction acquirer and processor company, plans to start operations abroad this year. ‘We want to offer card processing, settlement and issuing’, Adam Parafiniewicz, PolCard CEO said. The company considers two options: organic growth or acquisitions in the region. The first variant could be financed from the company’s own funds, the second one with its US investor GTECH. Analyses are being conducted now to develop in Lithuania and Slovakia.

The company will also take care of the Polish market. ‘We have 41,000 outlets accepting cards in our network. In 2006, their number should grow to 50,000. We estimated, the number of transactions and their value will grow by about 30 percent’, Adam Parafiniewicz said. This year, the amount of transactions settled in PolCard network could exceed 120 m, and their value PLN 15 billion (EUR 3.6 billion).

(PLN 1 = EUR 0.238)Poland/Enterprises/Financial services

 

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Podpis: APA - Austria Presse Agentur

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