By Olivia Bugault

 

Bank UniCredit SpA and fintech company SIA SpA jointly said late Friday that they have signed a revised agreement regarding the supply of card-processing services in Italy.

The Italian companies have "revised the overall terms of their current outsourcing agreement for the supply of certain processing services in Italy, Austria and Germany concerning card transactions and the management of [point of sale] and ATM terminals," they said.

Under the revised terms, SIA paid UniCredit 228 million euros ($276.3 million) and can renew the agreement until 2036, they said.

The signing of the deal follows news from the companies on Oct. 5 that they were in exclusive talks about the renewal of their agreement on card-processing services.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

February 15, 2021 01:58 ET (06:58 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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