TRW to Create Image-Based System for Eurocard Nederland
TRW Financial Systems Inc. said it will develop and install for one of Europe's largest credit card processors an image-based system for handling sales drafts.
The contract was signed last month by the Berkeley, Calif., technology company and Eurocard Nederland, based in Rotterdam. The deal is valued at $3.3 million.
Eurocard Nederland is the central processor for MasterCard and Eurocard transactions in the Netherlands, whose major financial institutions own the company.
The agreement is the third international imaging contract this year for the TRW unit.
It also provides image processing services to several U.S. banks, including Chase Manhattan Corp. and Citibank Nevada, a Citicorp credit card subsidiary.
The TRW system is to be installed at Eurocard's operations center next summer.
The system will be used to process sales drafts submitted to Eurocard Nederland by its subscribing merchants.