Saturday, March 17, 2007

PBS and BBS merge card processing operations

See also the Finextra article:
Norwegian payments processor Banking and Business Solutions (BBS) and Danish payments body Payment Business Services (PBS) are merging their respective card processing operations to form a new company called Northern European Transaction Services (Nets).
Nets will offer card payment processing services in the North European markets and aims to increase annual volumes from three billion transactions to five billion transactions by the end of 2008.

BBS and PBS will each own a 50% stake in the venture and say Nets will also seek additional investors to fund further expansion in Europe. The new company will be headed by PBS EVP Klaus Frandsen.

Well, there was already one sheep (TAI/Interpay--> Equens) over the bridge, so more are bound to follow.