Global acquirer and payment service provider EVO Payments International has formed a strategic alliance with pan-European banking group Raiffeisenbank for card acceptance in the Czech Republic.
EVO and Raiffeisenbank have formed a card acceptance alliance
As a result of the partnership, all acquiring related services and responsibilities will transfer to a newly-founded Czech subsidiary of EVO, called REVO. The transaction, subject to regulatory approvals, is expected to close at the beginning of 2016.
According to Raiffeisenbank vice-chairman of the board, Rudolf Rabiňák: “We are confident that the innovative and secure solutions offered through this partnership will form a stepping stone to strong future cooperation with our clients. We are following the global trend in which companies highly specialised in the field of merchant acquiring take control of such operations. In Europe, there has been an increase in new strategic alliances between banks and payments companies, which has resulted in a number of positive consequences for clients.”
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