European payment solutions provider SIBS Group is set to acquire ITCARD, a Poland-based company specialising in processing ATM and electronic payment transactions for banks and financial institutions. The terms of the agreed acquisition, which remains subject to regulatory approval, have not been disclosed.
The proposed purchase will integrate ITCARD’s payment services portfolio into SIBS’s operations, including the Planet Cash ATM network, Planet Pay payment terminal suite, and the company’s card issuance business.
The integration brings approximately 5,500 ATMs and over 181,000 POS terminals under SIBS management, bolstered by the addition of around 470 ITCARD employees. Following the transaction, SIBS will process more than 17 billion transactions annually across its expanded network of payment services.
This move is aimed at further establishing SIBS’s presence in Poland, which began in 2008 and was further strengthened through previous acquisitions including payment services company Paytel in 2018, followed by POS service provider Kar-tel in 2023.
SIBS, which is headquartered in Lisbon, Portugal, states that it will “continue investing in strong local partnerships, the development of new services, and technological innovation”, marking its latest agreement as a effort to “establish itself as an internationally recognized technology operator in payment systems”.
Source: https://www.fintechfutures.com/
