The partnership will benefit financial institutions and merchants. This will allow Printec and Worldline to expand the range of payment services in 16 countries across Central and Eastern Europe.

The new agreement will bring together Printec’s expanded portfolio of services and Worldline’s processing services and solutions. This will enable Printec to provide financial institutions with business models that help them develop customer relationships.

The partnership between the two focuses on other business areas, including Issuing Processing, Account Payments and Digital Services.

In addition, Printec Group’s payment platform will offer merchants commercial acquiring services on all acceptance channels. The measure is meant to bring banks, merchants and consumers closer together.

Alessandro Baroni, Head of Global Financial Services at Worldline, commented: “We are excited to announce the signing of this strategic partnership with Printec Group. Worldline’s range of payment solutions and services is ideally placed to meet the current market needs across the CEE region. In partnering with Printec, Worldline reinforces its commitment to developing its presence across the CEE region and stimulating further business growth and opportunities.

Harris Konstantinou, Chairman of Printec Group, said: “This partnership is aligned with Printec’s strategy of creating an independent payment infrastructure by providing outsourcing services to all customers. The value of this shared vision with Worldline is that it fulfils the market needs by delivering innovative and operationally efficient end-to-end payment infrastructure, which enables business growth and provides unparalleled value to all parties involved.

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Worldine is a global payment provider with around 18,000 employees and operating in more than 40 countries. In 2022, the company reported revenue of $4.57bn, representing an increase of 10.7% from the previous year.

The revenue growth was driven mainly by robust performance in Merchant Services and the purchase of the firm’s rival Ingenico.