Financial Daily from THE HINDU group of publications
Thursday, Jun 20, 2002
Financial Daily from THE HINDU group of publications Thursday, Jun 20, 2002 |
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Money & Banking
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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.
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