ICP Cash Processing merged with Concardis
Eschborn, 7 September 2016. Concardis GmbH has taken another step towards becoming a full-service payment provider. Its recent approval for technical network operations from the German banking industry now makes Concardis one of 18 approved network operators in the Girocard system run by the German banks and savings banks. In addition to its commercial services, the network operator licence enables Concardis to offer its customers the technical services needed for processing cashless payments at the point of sale. Until now, they had to make use of third-party services. Most recently, Concardis has been providing the bulk of these services via Cardtech, in which it holds a majority stake.
Merging International Cash Processing (ICP) and Concardis made it possible to obtain approval at short notice. Concardis acquired the network operator as of 30 June this year. Its merger with Concardis was entered in the Commercial Register on 5 September 2016. ‘Getting the network operator licence strengthens our position as one of the leading payment service providers in Germany. A strong position and a mainstay in our home market are a prerequisite for expanding successfully into other markets. The acquisitions and partnerships completed in the past 18 months and the improvements to our internal productivity have given us the wherewithal to do so,’ explains Marcus W. Mosen, CEO of Concardis.
Before acquiring ICP and increasing its stake in Cardtech, the company had taken over the Austrian cashless payment provider REA Card Austria and TelePay. REA Card Austria also gave Concardis better access to the Austrian market. Its investments in Orderbird AG, the leading iPad point-of-sale system for the hospitality industry, and WEAT Electronic Datenservice, which has a powerful presence in the filling station market, are to be leveraged to expand the company’s position in two key vertical markets. According to Mosen, ‘approval as a technical network operator now enables us to give technical support to other commercial network operators and to offer our customers individual payment solutions. We and our partners intend to seize this opportunity’.