PolCard takes over BillBird with zł.21.6 million

PolCard has taken over BillBird, operator of a payment settlement network. PolCard bought the shares from IIF and BRE Bank for zł.21.6 million (BRE Bank got zł.5.9 million in the deal). BillBird has branches in about 2,100 shops, supermarkets and gas stations. Until recently, PolCard was present in 2,200 such places but it plans to offer its services in 10,000 stores by the end of 2005. PolCard is the largest domestic company dealing in credit card maintenance. It plans to increase the number of its terminals by 5,000 by the end of this financial year (February 2005). The new devices will accept credit cards with a microchip, which are much safer than traditional ones. PolCard is also preparing to launch a cash-back service at its terminals, allowing cash withdrawals from one's bank account in shops and stores, a service now only available to BZ WBK's clients. Polcard's president, Adam Parfiniewicz, said the cash-back service will be available from the beginning of 2005. (Parkiet, p. 3) D.W.