Muzo inks Bawag card services contract

Austria's Bawag Bank has contracted with Prague-based payment services firm Muzo for the supply of credit card issuing and processing services at its Czech subsidiary.

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Muzo inks Bawag card services contract

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Under the agreement Muzo - which is majority owned by Atlanta-based Global Payments - will provide the bank with card personalisation, statement printing and distribution as well as PIN printing and distribution in the Czech Republic. Muzo will also provide the bank's clients with credit card authorisation services.

Commenting on the deal, Carl Williams, president of worldwide payment processing, Global Payments, says: "This agreement, with one of Austria's most successful card issuers, is evidence of the strength of our payment solutions and our ability to tailor a programme specifically for our customers' needs, while significantly minimising their initial investment costs."

Global Payments acquired 52.6% of the outstanding shares of Muzo from Czech-based Komercni Banka in February 2004.

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