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GZS and Bayern Card-Services agree on joint venture for savings banks

Tuesday 20 December 2005 10:34 CET | News

German based GZS Gesellschaft fÜr Zahlungssysteme mbH (GZS) and Bayern Card-Services (BCS) have agreed on a far-reaching joint venture in which they will enter into a long-term collaboration providing services for the savings banks. Together, the partners aim to significantly boost their market share within the Savings Banks Finance Group, thereby consolidating their leading position in the savings bank sector.

In the framework of the joint venture, GZS will be charged with handling the technical processing of the supported savings bank clients, while BCS will be responsible for customer services such as bank- and cardholder support as well as assisting the banks in their sales endeavors. The agreement – which was struck after a comprehensive market and competition analysis of the savings banks’ credit-card business – has the goal of optimally combining both partners’ economies of scale, while further developing existing products in a systematic and coordinated manner.


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