VIENNA, Austria – October 9, 2017 – SIX and easybank announce the successful completion of the acquisition of the Commercial Issuing business in Austria by easybank. The business will continue to be operated under the well-recognized national brand “PayLife” and consists of the issuing of credit and prepaid cards, as well as issuing support for Austrian Banks.
Commercial Issuing was acquired by SIX as part of the acquisition of PayLife Bank and is the only B2C business of SIX that no longer fits into the strategic orientation of SIX anymore. According to its current global corporate strategy, SIX will exclusively focus on its role as a B2B service provider for banks, financial institutions and in payment transactions for merchants, especially on acquiring and on processing of acquiring and issuing Transactions.
For easybank this acquisition is another important step in strengthening its position as one of the leading direct banks in Austria. The acquisition adds approximately 1.7 million cards to easybank's portfolio. Furthermore, the acquisition provides easybank with an experienced credit card team and enlarges its customer base creating further cross-selling opportunities to consumers and businesses.
About SIX Payment Services
SIX Payment Services offers secure, innovative services along the entire value chain of cashless payments to financial institutions and merchants. The tailor-made solutions include settlement of domestic and international payments by credit, debit and prepaid card. As one of Europe’s largest card transaction processors and market leader in Switzerland, Austria and Luxembourg, SIX Payment Services ensures that card-based payments in Switzerland and abroad are both accepted and processed. With around 1,100 employees and 10 locations worldwide, SIX Payment Services supports clients in 33 different countries www.six-payment-services.com
SIX operates the infrastructure underpinning the Swiss financial sector and offers a comprehensive range of services around the world in the fields of securities trading and settlement, financial information and payment transactions. The company is owned by its users (approximately 130 banks of various orientation and size). Its workforce of over 4,000 employees and presence in 25 countries throughout the world generated operating income of CHF 1.8 billion and a Group net profit of CHF 221.1 million in 2016. www.six-group.com
easybank is one of Austria’s leading direct banks, offering a comprehensive product portfolio ranging from current accounts and savings products to credit cards, consumer and housing loans, auto leases, security products and investment funds. Our business model is based on simple and transparent products, technology, a lean operating model and excellent customer service. easybank is a subsidiary of BAWAG Group. www.easybank.at
SIX Payment Services AG
Tel. +41 58 399 2129
Fax +41 58 499 2710
A-1100 Vienna, Austria
Benjamin del Fabro (Head of IR &
Communications, BAWAG Group)
Tel: +43 (0) 5 99 05-22456
Georgia Schütz-Spörl (Press Officer, BAWAG Group)
Tel: +43 (0) 5 99 05-31210