SEB's Euroline To Handle KLM's Card Transactions In Nine Countries
Euroline, a business unit within SEB Kort AB, a subsidiary of Skandinaviska Enskilda Banken, have concluded a Central Acquiring agreement with 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. 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 information in a uniform format and partnership bonds between the Airline and Euroline.