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
"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.
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.
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
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
NOVA Information Systems
Michelle Graff, 678-731-5064
Willie Byrne, + 353 1 2390 208
Jedrzej Marciniak, + 48 61 856 5341
Wojciech Wojciechowski, + 48 61 856 5400
Source: NOVA Information Systems