The largest chain of petrol stations in Sweden, OK - Q8 AB, has entered into an agreement with EDB for the delivery of payments services for the chain's 1.3 million customers
The largest chain of petrol stations in Sweden, OK - Q8 AB, has entered into an agreement with EDB for the delivery of payments services for the chain's 1.3 million customers. The agreement, which represents total contract value of around SEK 80 million, runs for five years and is one of the largest contracts for card services that EDB has won in the Swedish market.
"This is an important contract and a strong vote of confidence in EDB's services for payment cards in the Swedish market. OK-Q8 will now be one of EDB's very largest customers for card issuance, and this confirms our strong market position for card services in Sweden", comments Wiljar Nesse, Executive Vice President - Bank & Finance at EDB.
"EDB is a strong and very knowledgeable supplier in the card services area, and was a natural choice for OK-Q8. The company has long-established and in-depth experience of technologically leading solutions for payment services, and I look forward to working closely with EDB over the coming years", comments Kent Baggås, who is responsible for card services at OK-Q8.
About the delivery
The contract provides for EDB to take on responsibility, over time, for issuing all cards for OK-Q8 Finance's customer portfolio in the Swedish market. The cards currently issued to these customers can only be used for payments at OK-Q8 and its partners, totalling 900 locations. In addition, OK-Q8 will begin to issue a new OK-Q8 VISA card, which will allow its customers to use their cards throughout the Visa network. EDB has developed a new state-of-the-art card services platform to provide the basis for its products and services in this area, and OK-Q8 will be the first of EDB's customers to start using the new platform.
OK-Q8 is one of the largest payment card issuers in Sweden, with 1.3 million customers and 1.6 million cards in use.
"This contract will give OK-Q8 access to market-leading technology for payment services, and we will do our utmost to ensure that EDB's services help the company to succeed in its continuing expansion in the Swedish market", explains Wiljar Nesse of EDB.