SiNSYS, Belgium subsidiary of SIA, is to fully merge into the Italian payment processor.
The move will complete the process of integration started in September, when SIA acquired from Atos Worldline the 49% of SiNSYS it didn’t already own.
The activities of SiNSYS, who specialise in the management of card transactions in 12 European countries, will be continued by SIA.
SIA plan to setup a regional hub in Belgium, which will maintain operations and develop new projects in the areas of payments, e-money, network services and capital markets.
SIA claims that the full incorporation of SiNSYS into the Milan-headquartered processor brings greater operational efficiency to the parent company, thanks to significant IT synergies.
Additionally, SIA has forged a contract with Chaabi Bank, subsidiary of Moroccan Groupe Banque Populaire (GBP), that allows the company to issue debit cards in the Netherlands for the first time.
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By GlobalDataGBP will gradually extend debit card issues to Germany, Great Britain, France, Italy and Spain.
SIA will directly manage the processing of the card payment transactions, services for dispute management and fraud prevention.
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SIA completes the acquisition of Belgian Sinsys