SIX Payment Services has been responsible for the technical processing of the acquiring business of Volksbank in der Ortenau since 2012. As well as processing all card transactions, the bank uses SIX for additional services such as fraud monitoring and clearing facilities. The existing agreement would have expired in 2021 however, the bank has now extended the agreement early and it will now operate until 2026. This means that SIX continues to be the preferred technology partner of Volksbank in der Ortenau.
As a cooperative bank, Volksbank in der Ortenau is owned by close to 62,000 members and acts as a universal bank, offering a complete range of modern banking services for businesses and private customers. Volksbank is also active in the credit card market, acquiring and supporting merchants that accept cards as a payment method. The bank’s subsidiary First Cash Solution GmbH solely operates this line of the business. In working with SIX Payment Services, the bank is able to offer its business customers acceptance and settlement of card payments and complements its range of services for this group of customers. In 2017, SIX processed all acquiring transactions for Volksbank in der Ortenau.
For Markus Dauber, Chairman of Volksbank in der Ortenau, the cooperation with SIX is one which provides support based on a strong and reliable partnership: “Our acquiring operations are growing rapdily, with transaction figures increasing by an average of 14% year on year. I believe it is very important that we continue to work with SIX Payment Services as we know that by using SIX’s cutting edge infrastructure our transaction processing is in good hands, allowing us to concentrate on looking after our business customers in the best possible way.”
Andrej Eichler, Head Financial Industry Services at SIX Payment Services, says: “We are delighted with the early extension of our agreement with Volksbank in der Ortenau . Our continued positive relationship is proof of a trusted and successful cooperation in business process outsourcing. With our modular offering we are able to meet the needs of banks of any size.”