Budapest Bank, a Hungarian payment cards issuer, has tapped Italian payments firm SIA to develop and implement a new payment cards management system.
Under the agreement, Budapest Bank will migrate its full debit and credit cards portfolio to SIA’s card processing technology platform.
The agreement also includes the integration of the SIA solution to the bank’s current services for long-term cooperation.
SIA will offer support to Budapest Bank as a business and technical solution provider in the development and implementation of its new payment cards management services.
Budapest Bank chief information officer Bálint Kelemen said: “We have conducted an extensive selection process to find the optimal long-term solution that enables Budapest Bank to efficiently handle its portfolio and best serve its customers.
“I’m convinced that the over half million active cards and 30 million transactions Budapest Bank is currently servicing will continue to grow, and the support of SIA will enable us to keep ahead of the continuously evolving card payment trends.”
SIA Central Europe CEO Dirk Brackenier said: “Budapest Bank will be a key customer of SIA and we are now able to provide processing infrastructure and other innovative value added services. Both parties are going into this partnership with great enthusiasm, resulting in the signing of a long-term contract.”
Currently, SIA processes more than 65 million payment cards in 16 European nations.