Wednesday, September 17, 2003

SSB wins Interpay/Banksys contract

Het Financieele Dagblad reported that Interpay and Banksys will give a press conference on their cooperation (joint venture) in the area of credit cards. Immediately speculations occured as to the scope of the cooperation.

On this issue I reported in February this year:

European Card Review reports in their January/February issue that SSB, the Italian 'Interpay' may win the contract of Banksys/Interpay for processing Dutch and Belgian credit-cards. The other contestants for this bid are thought to have been First Data and TSYA.

And in August 2002 I mentioned on this blog that the Board of Directors of Interpay had informed its employees that it had assigned consultancy firm BCG to advise on the future of credit-card processing for Interpay. I predicted the outcome to be that credit-card processing would be too expensive on the small Dutch scale and that outsourcing and cooperation (Banksys) would be one of the options.

Now, let's wait until next week to find out how many Interpay-employees (my guess: some 60-100) will be affected by this decision.