Financial Daily from THE HINDU group of publications
Thursday, Jun 20, 2002

News
Features
Stocks
Port Info
Archives

Group Sites

Money & Banking - Credit Cards & Debit Cards


ABN-Amro ties up with EDS for card processing

Our Bureau


Mr Romesh Sobti, Executive Vice-President & Country Representative, ABN-Amro Bank India, with Ms Anjali Jain, Managing Director, EDS India, at a press conference in Mumbai on Wednesday.

MUMBAI, June 19

ABN-AMRO Bank announced a tie-up with Electronic Data Systems (India) Pvt Ltd (EDS) for its credit card processing services in India.

"Through outsourcing of credit card processing we increase cost efficiency by 15-20 per cent. We will be able to offer a low cost delivery experience to our clients,'' said Mr Romesh Sobti, Executive Vice-President & Country Representative — India, at a press conference today.

"This is a ten-year alliance that we have signed with ABN-Amro. We get a commission for every transaction,'' said Ms Anjali Jain, Managing Director, EDS, India. According to this agreement, EDS will handle application hosting, data processing and back-office processing; ABN-Amro will look after sales and marketing.

"We are in constant talks with other banks to out-source their operations,'' said Ms Jain when asked about future tie-ups.

ABN-Amro is to launch credit cards in the next few weeks soon to be followed by debit cards. ABN-Amro and EDS have a tie up for credit card services in the Asia-Pacific region.

Send this article to Friends by E-Mail

Stories in this Section
Rupee up 7 paise; gilts rise


BSES finance arm to raise Rs 600 cr
LIC sells IBP shares
Indian Bank allowed to unfreeze arrear payments
Banks ride well in CARs
Vijaya Bank opens ATMs
IDFC to focus on growth of farm sector
IDFC infrastructure fund to be ready by Sept
APCOB special drive for enhancing recoveries
ABN-Amro ties up with EDS for card processing
Women's credit card
New forex trading platform launched
Aviva Life kicks off with seven products


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line