U.S. Bank Home   Customer Service   Contact Us   Locations   Careers   About U.S. Bancorp   
U.S. Bank



Related Links
Careers at U.S. Bancorp
Community Relations
Corporate Governance
IR Tool Kit
Print PagePrint Page
E-mail PageE-mail Page
RSS FeedsRSS Feeds
IR ContactsIR Contacts

Printer Friendly Version View printer-friendly version
<< Back
NOVA to Acquire CardPoint of Poland from Bank Zachodni WBK
ATLANTA & DUBLIN, Ireland & WARSAW, Poland--(BUSINESS WIRE)--April 23, 2004--NOVA Information Systems (NOVA), a wholly owned subsidiary of U.S. Bancorp, today announced that a European affiliate of NOVA has entered into a definitive agreement for the purchase of CardPoint from Bank Zachodni WBK (BZWBK) of Poland, a subsidiary of AIB Group. NOVA, through its European affiliates, will provide CardPoint's existing merchants with processing services, as well as customer service and support. In addition, a long-term marketing alliance was signed with BZWBK, which will result in marketing services referrals through BZWBK's 400 branches located throughout Poland. BZWBK will continue to sponsor all card acceptance schemes in Poland on NOVA's behalf.

CardPoint plans to supply its merchants with products and processing services through NOVA's affiliate, euroConex, which has been providing merchant services since June 2000. Over the past three years euroConex has achieved strong growth in Ireland and the UK and has established a significant presence in France, Sweden, The Netherlands and Spain.

"CardPoint has demonstrated impressive performance in the rapidly expanding market of card acceptance in Poland," said Billy Saunderson, Chief Executive Officer, euroConex. "The premier processing services that euroConex offers will allow CardPoint merchants to take advantage of enhanced service levels, as well as supporting multi-currency solutions including Dynamic Currency Conversion (DCC)."

"This transaction underscores NOVA's commitment to the European market," said Edward Grzedzinski, CEO, NOVA Information Systems and Chairman, euroConex. "euroConex has a strong business model and the right technology to rapidly expand and become a major pan-European payment processor."

"The caliber of NOVA as an industry leader with significant international experience will provide CardPoint with access to state-of-the-art technology and products that will enhance CardPoint's customer offering and allow it strengthen its position in the Polish market," said Jacek Ksen, President, BZWBK. "Thanks to this transaction, both the staff of CardPoint and BZWBK have gained a very strong partner."

BZWBK established its merchant services business in 1998, re-branded as CardPoint in August 2003, and currently has 15% market share (merchant turnover) in Poland, the fastest growing card issuing market in Europe.

About NOVA

NOVA Information Systems, a leader in the payment processing industry, is a wholly owned subsidiary of U.S. Bancorp (NYSE:USB - News). NOVA partners with financial institutions, independent sales organizations, associations, government agencies and community banks to offer integrated payment processing services to their merchants and retailers. NOVA's products include credit and debit card processing services, software applications, electronic check conversion, gift card solutions and other value-added services to more than 650,000 merchant locations in the United States and Europe. For more information visit www.novainfo.com.

About euroConex

euroConex Technologies, Ltd, is a 50% owned affiliate of NOVA Information Systems, based in Ireland. The company provides an integrated payments processing service to financial institutions and merchants in Ireland, the UK and in selected European markets using a multi-currency platform. In addition to POS, IPOS and eCommerce solutions, euroConex also provides a range of specialist multi-currency products including Dynamic Currency Conversion (DCC). For more information visit www.euroconex.com

About Bank Zachodni WBK (BZWBK)

BZWBK is a subsidiary of the AIB Group (LSE:ALBK, NYSE:AIB) with 70.5% shareholding, Ireland's leading financial services organisation. BZWBK is a leading retail and commercial bank in Poland, with a network of 400 branches, 570 ATM's and 5 Business Banking Centre's. BZWBK's strategy has allowed it to successfully focus on becoming a recognized market leader in chosen key personal segments and products. In the Business Market, BZWBK has a focused and selective approach to the quality growth of its business franchise, through dedicated relationship management centres, located in key urban markets. BZWBK is quoted on the Warsaw Stock Exchange and is included in the Warsaw Stock Exchange leading company index (WIG 20). For more information visit www.bzwbk.pl

About CardPoint

BZWBK established its merchant acquiring business in 1998, re-branded as CardPoint in August 2003, a wholly owned subsidiary. CardPoint is recognized as a leading merchant acquiring services provider in the Polish market with 15% market share (merchant turnover) through c6,500 merchant locations and over 9,200 devices. CardPoint reputation is as a provider of high quality service combined with sophisticated product, with a focus on attracting high quality, high turnover customers. For more information visit www.cardpointsa.pl

U.S. Contact:
NOVA Information Systems
Michelle Graff, 678-731-5064
E.U. Contact:
Willie Byrne, + 353 1 2390 208
BZWBK Contact:
Jedrzej Marciniak, + 48 61 856 5341
CardPoint Contact:
Wojciech Wojciechowski, + 48 61 856 5400

Source: NOVA Information Systems

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. U.S. Bancorp does not undertake an obligation, and disclaims any duty, to update any of the information on or available through this site.

This site is supported through the use of Microsoft Internet Explorer Browser, version 6.x or higher. Use of older or other browsers may cause pages to improperly display. We regret any inconvenience that this may cause.

Privacy Pledge   |   © 2010 U.S. Bancorp Site Map   |   Careers