Komer?ní banka, a part of the Société Générale Group, has entered into a partnership with payments firm Worldline to offer merchant acquiring and payment processing services to retailers under brand name KB SmartPay.

This alliance aims to create conditions for further enhancing services for retailers and card holders, implementation of modern technologies and spreading of cashless payments in all types of outlets and among entrepreneurs across the Czech Republic.

The partnership will also expand the acceptance of cards on the internet.

This cooperation will bring an improved offer which will simplify utilisation of card payment services also for existing clients.

Komer?ní banka chairman and CEO Albert Le Dirach said: "The alliance with the European e-payment leader will help us to continue developing and innovating e-payments.

"Working with Worldline, we will offer the option to use POS terminals to additional merchants, thereby helping them to increase their turnover; in the light of businesses’ and merchants’ experience after POS terminal installation, such increases are quite common in the Czech Republic and elsewhere in the world.

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"The use of POS terminals also underpins customer loyalty and satisfaction, reduces risks related to cash operations, and cuts costs, we expect the partnership will become fully operational within the second half of 2016."

Worldline general manager Marc-Henri Desportes said: "KB SmartPay will offer a complete package of tools to businesses. Moreover, they will benefit from added value services such as loyalty cards, gift cards, and advertising on the payment terminal, further strengthening their relationship with their customers."