Euroline to Handle Air France's Credit Card Transactions in 75 countries

Euroline, a business unit within SEB Kort AB, a subsidiary to Skandinaviska Enskilda Banken AB (SEB), has entered a central acquiring agreement with Air France. The agreement came into effect in December 2006, according to which Euroline will centrally acquire Air France’s credit card transactions covering 75 countries. Central acquiring allows airline companies to centralise processing of credit card sales from multiple countries with Euroline, instead of signing up with separate acquirers for each country of sale. Potential advantages to central acquiring for businesses include enhancement of internal administration processes, fast settlement for card purchase transactions and a streamlined management information system covering international sales. Since Euroline first offered central acquiring in 2000, airlines such as SAS, KLM, Alitalia, Spainair and Aeroflot have signed up to the service.

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