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Equens links with ICBPI
Equens and Seceti, the payments processing subsidiary of the ICBPI group of banche popolari – popular banks – in Italy are to establish a joint new company, Equens Italia, under Equens’ current holding structure. This follows the agreement announced in June for Seceti and Equens to clear their SEPA ‘cross community’ payments via each other as from January 1 2008 (ECR, July/Aug, p34), and appears to be a response from ICBPI to the formation of SIA-SSB, the dominant Italian processor.
The latest step will strengthen both Equens and Seceti, creating a group which will process 8.7 billion payments and switch 3 billion POS and ATM transactions annually. By combining these volumes, Equens says it will become the largest pan-European processor in Europe, with a market share of 12%.
Under the original amalgamation of Interpay and TAI into Equens, two operating companies – Equens Nederland and Equens Deutschland – were created. The addition of Seceti as Equens Italia shows that the model is capable of being extended to other countries and banking communities.
“It proves that we are fulfilling our ambitions,” says Equens board chairman Michael Steinbach: “I am very proud that Seceti, being one of the most leading payment processors in Italy, has chosen Equens as its strategic partner.”
