UniCredit, SIA Agree to Revised Terms for Card-Processing Services Deal
February 15 2021 - 2:13AM
Dow Jones News
By Olivia Bugault
Bank UniCredit SpA and fintech company SIA SpA jointly said late
Friday that they have signed a revised agreement regarding the
supply of card-processing services in Italy.
The Italian companies have "revised the overall terms of their
current outsourcing agreement for the supply of certain processing
services in Italy, Austria and Germany concerning card transactions
and the management of [point of sale] and ATM terminals," they
said.
Under the revised terms, SIA paid UniCredit 228 million euros
($276.3 million) and can renew the agreement until 2036, they
said.
The signing of the deal follows news from the companies on Oct.
5 that they were in exclusive talks about the renewal of their
agreement on card-processing services.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
February 15, 2021 01:58 ET (06:58 GMT)
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