EDB, a provider of IT services, has won a five-year contract from OK-Q8, a petrol station chain in Sweden, for the delivery of payments services. The total contract value is around SEK80 million.
The contract currently covers services related to card issuance and internet card banking services. In addition, EDB and OK-Q8 have agreed to investigate opportunities to expand the scope of the contract into other areas during the five-year period.
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, totaling 900 locations, said EDB.
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 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.
Wiljar Nesse, executive vice president for bank and finance at EDB, said: 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 largest customers for card issuance, and this confirms our strong market position for card services in Sweden.
Kent Baggas, responsible for card services at OK-Q8, said: 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.