Romcard is now part of SIBS GROUP
Romcard was acquired by SIBS in a transaction closed today.
SIBS is a full fledge payment service provider, with a leading position in Portugal and a significant footprint in high-growth countries in Europe, Asia and Africa. The Company offers a broad spectrum of solutions from digital and e-commerce to ATM and POS network management, card production and personalization, anti-fraud and cybersecurity services. Via this acquisition, SIBS expands into the Romanian market, further expanding its scale and relevance in Central and Eastern Europe, where has already a significant presence in Poland, through Paytel.
Romcard alongside SIBS Romania and Supercard Solutions & Services have more than 25 years experience in offering payment services and necessary technology solutions for all major banks in Romania, also serving clients in other markets in Moldavia, Serbia, Hungary, Kosovo, Montenegro, Macedonia and Lithuania. The subsidiary Romcard has a leading position within the Romanian payments market. The further subsidiary Supercard Solutions & Services has a leading position in merchant value added services, including loyalty systems and end-to-end marketing capabilities. The company historically operated largely independently from the parent group, and is consequently prepared for a new stage of growth with a strong operational backing from SIBS.
“We are delighted to become part of SIBS, a company with a similar business core as ours and with a strong presence in the payment solutions environment on three continents. I am sure that together, our companies will continue to bring innovative payment solutions, in both Romania and Europe markets, and be the Partner in Payments to the companies that entrusted us in the past, as well as new ones. Thus, our success story goes on and we are excited to reach for the new frontiers, geographically and in innovation.” says Utku Ogrendil, CEO SIBS Romania
“These are companies that share SIBS DNA. SIBS is a leading payment player that enhances payment solutions serving more than 300 million users across more than 10 markets. We will, as shareholders of the companies as of today, continue – and intensify – the focus on providing the most convenient, secure and innovative solutions to the Romanian market and will seek to further intensify the cooperation with existing staff and partners, to strengthen the Romanian payments market and, on this basis, to intensify the current cashless payment trends.”, says SIBS’ CEO Madalena Tomé.