West International AB (“Westpay”) and Elavon Financial Services DAC, Norway Branch (“Elavon”) has today entered into a cooperation agreement. Under this agreement, Westpay will make available Elavon’s card acquiring services to Westpay resellers and merchants throughout Europe.

Under the new agreement, Westpay’s resellers and merchants across Europe will benefit from Elavon’s full range of card acquiring services, such as Dynamic Currency Conversion (“DCC”), card acquiring in all sales channels including merchant in-store, e-commerce and self-service, and advanced reporting and statistics. Elavon’s services will be tightly integrated in Westpay’s payment infrastructure.

“We are delighted to announce our newly signed cooperation agreement with Elavon, allowing our merchants across Europe to accept payments from all major international card schemes” says Sten Karlsson, CEO of Westpay. “This will result in a seamless experience for our customers and increase business opportunities for the merchants, both locally and cross-border throughout Europe”.

“We are pleased to partner with Westpay in delivering to their merchant clients innovative, secure and flexible ways to accept payments from their customers,” said Ketil Fridheim, managing director of Elavon in Northern Europe.

As consideration for providing these payment services, Westpay will receive recurring revenue based on all transactions. The agreement signed is initially valid for three years with possibilities for extension. At the time of this press release the magnitude of the revenues throughout the agreement term is not known.

For additional information contact:

Sten Karlsson, CEO West International AB (publ)
Mobile: +46 70-555 6065
Email: sten.karlsson@westpay.se

Ketil Fridheim, Managing Director Northern Europe & Executive VP Europe, Elavon
Mobile: + 47 98211101
Email: ketil.fridheim@elavon.com

Westpay’s Certified Adviser is Erik Penser Bank, +46 8-463 80 00.

About Westpay:
Westpay provides smart transaction- and payment solutions for merchant in-store as well as for the e-commerce and self-service markets. We are able to offer a complete solution for all types of payments and for all kinds of applications within various industries, such as retail, hotels and restaurants and the retail banking sector. The company is active in five main market areas: The Nordic countries, Europe, Africa, South- and South East Asia, and Australia. The customers include OpenSolution, ClearOn, Svenska Handelsbanken, Datorama, Nets, Interblocks, MAX Burgers and ABSA Bank. The company has its registered office in Upplands Väsby, Sweden and is listed on Nasdaq First North Stockholm. For more information: www.westpay.se

About Elavon:
Elavon is wholly owned by U.S. Bank, the fifth-largest bank in the United States, and provides end-to-end payment processing solutions and services to more than 1.1 million customers in the United States, Europe, Canada, Mexico and Puerto Rico. As the leading provider for airlines and a top five provider in hospitality, healthcare, retail, and public sector/education, Elavon’s innovative payment solutions are designed to solve pain points for businesses from small to enterprise-sized.

Attachment

• Press release 20180613_Elavon Westpay