The contract signing was prompted by the expiration of PayLife's present processing contract with First Data International (FDI) in mid-2010. The selection process began back in 2007 and included all leading European processing providers as well as the former processor FDI. This assignment means that Telekurs Card Solutions will increase the number transactions it processes by over 50% and thereby further enhance its competitive strength in the international processing business.
âWe decided for Telekurs as our first choice partner in Europe. Telekurs excelled over the other providers through its very good service provision and because it can offer the best value for money," explained Peter Neubauer, Chief Executive Officer of PayLife. âAnd we decided for a European solution."
âWe are already working together successfully with Telekurs in our Slovenian business and are therefore already convinced today about the performance of this innovative and experienced partner," added Dr. Ewald Judt., Managing Director of PayLife.
âWe are pleased that the PayLife Bank, as the market leader for cashless paying in Austria, has decided for our modern and high-performance processing platform,â stated Felix Aeschlimann, CEO of Telekurs Card Solutions, who went on to add: âOur international processing offering comprises the entire value chain in the field of payment & clearing and thus corresponds to the current consolidation trend in Europe.â
The contract has been concluded for five years. The migration phase will be completed incrementally in the year 2010. There will be no impact upon the PayLife merchants and the cardholders as result of this change.