| SEB signs card services agreement with EDB in Sweden |
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(Oslo, 25 August 2008) SEB Kort and EDB's subsidiary CEKAB have entered into an agreement for the supply of card services for SEB Kort's activities in Sweden. The agreement means that CEKAB will continue to be responsible for processing all card transactions carried out through payment terminals used by SEB's customers in Sweden. The agreement is an extension of an existing contract, and runs for two years with total contract value of SEK 20 million. "CEKAB fully recognizes the importance of ensuring the highest quality of service and availability for the services it offers. CEKAB has provided its services to SEB for over 10 years. We are very proud that the bank has chosen to renew its contract for a further two years, and we see this as confirmation of the continuing quality of the service we deliver. In addition, we are now focusing on how we can help our customers with processing transactions in countries outside Sweden", comments Eva Menzing, Managing Director of CEKAB.
CEKAB is one of the leading players in the Nordic card services market. EDB and CEKAB's strategy is to follow its customers' business throughout the Nordic region, the Baltic states and the rest of Europe.
"We have had contracts with both CEKAB and EDB for card authorisation and capture of card transactions for many years, and our experience of both companies has been good. We are now able to bring these services together from a single supplier", explains Christina Larsson, business area manager of Euroline, the acquiring arm of SEB Kort.
About the services
The contract gives CEKAB responsibility for operating transaction authorisation and capture of card transactions carried out through payment terminals, known as Point of Sale (POS) transactions.
About the contract
The contract represents an extension of an existing agreement between SEB Kort and CEKAB, and runs for two years with total contract value of SEK 20 million.
For further information, please contact:
Eva Menzing, Managing Director, CEKAB. Tel: +46 8 725 57 01
Rikard Malmfors, Strategic Development, Euroline. Tel: +46 8 146920
Torgeir Kristiansen, Head of information, EDB. Tel: +47 901 27 909
EDB Business Partner is one of the Nordic region's leading stock exchange listed IT companies. The group has more than 6,000 employees, and turnover of about NOK 8 billion. EDB delivers solutions that cover the entire range of business critical IT services from application services and industry-specific solutions through to IT operating services and network solutions. EDB is committed to being a close and attentive IT partner that helps its customers operate more efficiently and achieve their business objectives. EDB Business Partner is listed on Oslo Børs with the ticker code: EDBASA.
For further information see: www.edb.com
More about CEKAB
CEKAB, Centralen för Elektroniska Korttransaktioner AB, is a secure and reliable partner for electronic card transactions and payments. CEKAB's core services include both authorisation of card transactions and transaction processing for merchants and issuers of cards in Sweden and the other Nordic countries. CEKAB also offers a range of additional services such as systems for secure internet shopping, card blocking, managing blocked cards, data file services, card registers with additional security features and direct links to POS and ATM terminals. CEKAB was incorporated in 1989 and now has approximately 60 employees. The company processed around 1.3 billion transactions for its customers in 2007. CEKAB is a wholly-owned subsidiary of EDB.
More about SEB Kort
SEB Kort is a wholly-owned subsidiary of SEB, with companies in Sweden, Finland, Denmark and Norway. SEB Kort has the overall responsibility for the group's credit card business, both issuing and acquiring. SEB Kort operates through the international card networks of MasterCard, Visa and Diners Club International. SEB Kort is the market leader in the Nordic countries for T&E, co-branding and centralised acquisition. At the close of 2007, SEB Kort had issued 3.2 million cards to its customers in the Nordic countries. SEB Kort has merchant agreements with 229,000 locations in the Nordic countries. SEB Kort reported transaction volumes of SEK 237 billion in 2007. SEB Kort was established in 1991, and its acquiring arm Euroline was established in 1994. SEB Kort has around 785 employees.
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