The contract was signed with OMV Refining & Marketing, a subsidiary of OMV Aktiengesellschaft. OMV is the leading oil group in central Europe and Austria’s largest listed industrial company.
The Single Euro Payments Area (SEPA) is an area in which consumers, companies and other economic players will be able to make and receive payments in euros, whether between or within national boundaries under the same basic conditions, rights and obligations, regardless of their location. The system, which is due to start in 2008, is designed to speed up the payments process, while simultaneously making it cheaper.
Under the multi-year agreement, Euronet will facilitate the migration of OMV’s decentralized acquiring operations at filling stations, including several third-party service providers in 12 countries, to Euronet’s single central SEPA compliant processing platform for approximately 5,000 point-of-sale (POS) terminals, as well as POS management and fuel card authorization services. The process will be completed by the end of 2008.
The agreement allows for additional countries, where OMV operates, to be migrated to the centralized SEPA processing platform in the future. Erste Bank has been chosen as the cross-border merchant acquirer for Bankcard payments at OMV forecourts across these 12 countries.
