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UniCredit, SIA revise card processing services accord, extend it to 2036

MILAN, Feb 12 (Reuters) - Italy’s UniCredit and SIA said on Friday they had revised the terms of the accord under which the payments group supplies processing services for cards, ATM and POS machines to the bank in Italy, Austria and Germany, extending it to 2036.

SIA is in the process of merging with rival NEXI and uncertainty over the accord with UniCredit had been a major hurdle for the tie-up before the two parties came to an agreement on its revision.

“As a part of their arrangements, SIA paid to UniCredit an amount of 228 million euros in line with expectations,” the two companies said in a joint statement. (Reporting by Valentina Za; editing by Angelo Amante)

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