European payment solutions provider SIBS has agreed⁢ to acquire a majority ⁣stake in ITCARD, a leading Polish payment services ⁤company. The deal,announced on September 11,2024,substantially expands SIBS’ presence in Central and Eastern Europe and strengthens its position as ⁢a key player in the region’s evolving digital payments landscape.

Strategic Expansion ⁤into ⁣a Key⁣ Market

ITCARD currently manages a substantial infrastructure of over⁤ 20,000 automated Teller Machines (ATMs) and 827,000 point of sale (POS) terminals. This network processes more than 17 billion ⁢transactions annually, demonstrating ITCARD’s critical role in Poland’s payment ecosystem. SIBS, already operating in over‍ 25 markets, views this acquisition as a pivotal step in its growth strategy, capitalizing on the increasing demand for advanced payment technologies.

Driving digital Transformation in Poland

The transaction is subject to regulatory approvals. Once finalized, it is indeed expected to accelerate the development of innovative payment solutions in Poland and contribute to the broader digital transformation of the Polish economy. Poland’s payment services sector ⁤is experiencing⁤ rapid growth, fueled by increasing adoption of cashless transactions and e-commerce.

The⁢ acquisition positions SIBS⁣ to leverage ITCARD’s ⁢established infrastructure and customer base⁢ to offer a wider range ⁤of payment services, including mobile payments, digital wallets, ⁤and fraud prevention solutions. This will ⁢benefit both merchants and consumers by ⁢providing more convenient,secure,and efficient payment options.