PBS A/S, a Denmark-based electronic-payments provider, will process all transactions initiated with cards issued in Germany by Luxembourg-based Ikano Bank SE under an expanded contract agreement PBS announced on July 27.
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PBS has supported Ikano’s card business since 2007, and adding the issuer’s Germany business will enable the company to centralize the processing of Ikano’s card transactions and enhance the bank’s efficiency, according to the card issuer.
The new agreement also enables PBS to process card payments for Ikano locations in Denmark, Sweden, Norway and Finland.
Ikano primarily issues private-label and cobranded debit and credit cards in cooperation with its business partners.
