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SEB Kort, the credit card subsidiary of Sweden-based financial group SEB, says it has signed a two-year processing deal with Swedish processor Centralen för Elektroniska Korttransaktioner AB, commonly known as CEKAB. The deal, which SEB says is worth 20 million Swedish kronor (US$3.1 million or 2.1 million euros), runs for two years. The deal is an "extension of an existing contract," SEB says in a statement. A company spokesperson did not return a call seeking more information. CEKAB will process all "card transactions carried out through payment terminals used by SEB customers in Sweden," the credit card company says in the statement.
