Lafayette Services Selects Certegy

Friday 22 October 2004 11:57 CET | News

Certegy has signed a Memorandum of Understanding (MOU) with Lafayette Services, S.A., (LaSer).

The MOU contains the basic terms upon which Certegy intends to provide a wide range of card and loan processing services to LaSer subsidiaries throughout Europe. LaSer, a subsidiary of the Galeries Lafayette Group, specializes in providing retailers with a comprehensive range of portfolio management and development services, and credit and loyalty enhancement solutions designed to generate value and maximize customer relationships. The transactions contemplated by the MOU are subject to Certegy and LaSer agreeing on definitive terms in final documentation. Under the terms of the MOU, Certegy intends to provide private label, bankcard, chip card, and consumer loan processing and support services to LaSer subsidiaries located in five countries throughout Europe, including: - Creation Financial Services and Sygma Bank (United Kingdom) - PrimeLine Services B.V. (Netherlands) - Credifin (Portugal) - Banco Sygma Hispana (Spain) - Fidexis (Belgium) Certegy currently provides transaction processing, consumer call center and back office support services for approximately four million private label cards, bankcards and loans for Creation Financial Services. The final agreement should expand this relationship to include over two million additional card and loan accounts for IT processing for the other four subsidiaries. Certegy will process LaSers card and loan accounts on its proprietary industry leading BASE2000 platform. BASE2000 was the industrys first third-party processing platform designed to support multinational card issuers. The company expects to reach a definitive agreement in the near future.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce