Apr. 8 – The most recent shareholders’ general assembly of both SIA and SiNSYS saw the participants approve the incorporation of the latter, Belgian subsidiary of the former, integrated with SIA, thus completing the incorporation phase that aims to further strengthen SIA’s presence at the international level and to achieve greater operational efficiency with economic benefits. SiNSYS’ activities in the management of international payment transactions with debit and credit cards see more than 1 billion operations per year, with about 30 million cards used and 700,000 retailers in 12 European countries. All activities will thus be continued by SIA thanks to the establishment of a branch in Brussels that will serve as “regional hub” for north-western Europe. It will also develop new projects and initiatives for payments, e-money, network services and markets capital, all in close cooperation with the parent company. The merger also allows to increase the Group’s competitive ability via the integration and the simplification of operations on a single centralized infrastructure for card processing activities, testing and software development.
