SIBS acquires ITCARD firming its position in central Europe’s payments market

The Portuguese financial payments systems company SIBS has obtained all the necessary regulatory approvals for the acquisition of ITCARD, concluding the acquisition process of one of Poland’s leading payment processing outsourcing companies.

ITCARD specialises in ATM services under the Planet Cash brand, electronic payment processing services through the Planet Pay terminal network, as well as the issuance and management of Visa and MasterCard cards.

The integration of ITCARD into the SIBS Group reinforces the company’s commitment to the Central and Eastern European market, actively contributing to the digitalisation of its economy.

With this integration, the SIBS Group expands its capacity to offer innovative and secure omnichannel solutions in Poland and other international markets, now being responsible for the global management of more than 20,000 ATMs, approximately 830,000 POS terminals, 35 million cards, and the processing of more than 17 billion transactions.

In Poland specifically, SIBS plays a significant role with a network of approximately 8,500 ATMs and more than 200,000 POS terminals.

Source: Supplied; Credits: Planet Cash