Worldline acquires 80% of Eurobank merchant acquiring unit

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Eurobank, one of the four largest lenders in Greece, has announced it entered into a binding agreement to sell 80% of its merchant acquiring business to Worldline in an attempt to strengthen its capital base.

Worldline acquires 80% of Eurobank

Eurobank is the third Greek bank to offload its payments infrastructure involving point-of-sale (POS) terminals, after Piraeus Bank and Alpha Bank concluded similar deals this year.

As part of the deal, Worldline will aim to leverage the Greek lender’s banking network as a commercial channel to distribute its payment products and services to physical and online merchants.

Eurobank’s merchant acquiring

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Commercial card payments reach 10% of global card payments

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Fuelled by dynamic integrated technology innovation, seamless regulatory compliance and enhanced value added services, businesses can generate operational advantages, achieve process improvements, and lower costs through the new generation of intelligent corporate and commercial card programmes.

Commercial card payments reach 10% of global card payments

Commercial cards and corporate payments programmes account for less than 10% of total payment card volume in Europe, yet there is tremendous potential for developing this sector into other areas undergoing automation, such as travel and expense programs and supply chain payments.

In Europe, the increasing demand for corporate and procurement/purchasing cards from governments, public

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Taking the $100 billion opportunity before it’s too late

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In their 2021 Global Payments Report, McKinsey and Company identify[1] an $100 billion opportunity to provide small and medium enterprises (SMEs) with new payments services. By offering value-added services to SMEs, rather than outdated and low-function static payment terminals, merchant service providers (MSPs) have the opportunity to deepen and strengthen their relationships with SMEs.

Merchant Services: Taking the $100 billion opportunity

McKinsey quantify this opportunity as a shift from owning 5-7% of a merchant’s software spend to owning as much as 40% of that spend.

In our new white paper, we argue that providing next-generation, flexible and smart mobile

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Marsh unveils new heads in FINPRO specialty

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Denny joined Marsh in 1989, and has worked in the US, US and international insurance markets. Most recently, he served as CEO of FINPRO for the UK, managing management liability, financial services, professional liability, cyber, and specie risk teams. He also advised leading professional service firms and financial institutions on their professional risk programs.

Thurston (pictured below) will succeed Denny as CEO of FINPRO for the UK. She will be based in London and will report to Dominic Samengo-Turner, CEO, UK, for Marsh Specialty. Thurston has been with Marsh for 12 years and currently leads the UK management liability team.

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