PKO Bank Polski finalize sale of merchant acquiring business

PKO Bank Polski and EVO Payments International successfully completed EVO’s

PKO Bank Polski and EVO Payments International finalize sale of 66 percent of eService shares and creation of a 20 year strategic alliance

acquisition of a 66% interest in eService, PKO’s existing merchant acquiring business.

In addition, the parties also entered into a 20 year strategic alliance under which the parties will continue to develop eService as a leading merchant acquirer in the region.

Under the terms of the Share Purchase Agreement signed by PKO and EVO in November 2013, the consummation of the transaction was conditioned upon the European Commission’s consent, as well as the transformation of eService from a joint stock company to a limited liability company.

Following the fulfillment of these conditions, the 66% equity interest was transferred to EVO Payments International.

The strategic alliance entered into between PKO Bank Polski and EVO will allow further development of eService’s business in Poland, as well as support the expansion of eService’s business into foreign markets, in particular Central and Eastern Europe.  At present eService, with over 35% market share in terms of transaction count and volume, is the leading Polish merchant acquirer.

eService’s acceptance network consists of more than 80,000 POS terminals and represents the largest network of terminals supporting contactless payments in Poland.  The strategic alliance will ensure that the Bank and eService’s customers will continue to have access to leading payment products and services, including in the area of e-commerce.

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