Euroline, a business unit within SEB Kort AB, a subsidiary of Skandinaviska Enskilda Banken, have concluded a Central Acquiring agreement with yet another major customer - KLM Royal Dutch Airlines. The agreement, which came into force on 1st June 2002, will mean Euroline handling the acquiring of KLM's card transactions centrally.
"This is another milestone for us and a proof that we have a Central Acquiring Service of world caliber," says Lars Göran Bergvind, Head of Central Acquiring at Euroline.
"Euroline have an extremely flexible attitude and are easy to work with. They offer a highly competitive product at a competitive price, so the decision was actually pretty easy," says Wilna van Dijk, Credit Card Manager at KLM.
The agreement covers payments in nine European countries, namely Switzerland, Russia, Poland, Hungary, Holland, Norway, Denmark, Finland and Sweden. Which means that in Holland, Euroline also successfully out-competed KLM's local redemption company.
Central Acquiring means a single agreement with Euroline for all credit card sales with MasterCard and Visa cards, from all countries and in any currency. The benefits include lower administrative costs and promotion in efficiency, management infor-mation in a uniform format and partnership bonds between the Airline and Euroline.
Since Euroline's launch of Central Acquiring in 2000, the company has signed contracts with three major airlines, namely SAS, and KLM. The company also has contracts with a handful of smaller airlines.
Globally, Euroline's competitors in the Central Acquiring sector are NatWest/Stream-line International and Citibank, whilst in the European market, our biggest competitor is Barclays.