The consortium, who sold out PayLife, includes Bank Austria, BAWAG, Erste Bank, Raiffeisen and ÖVAG.
The acquisition, whose transaction price remained undisclosed, is part of SIX’s strategy to push international growth and emerge as one of Europe’s leading providers for card-based payment services.
Post-acquisition, the purchased entity will operate as a wholly owned subsidiary of SIX, as part of its payment services division.
SIX Payment Services previous operations head Roger Niederer has been appointed as the CEO, while PayLife Bank previous CEO Peter Neubauer will assume the post of managing director at the new company.
As PayLife’s central processing partner, SIX has ensured that transactions between card holders, card issuers and traders are efficient and secure.
Having operations in 24 countries, SIX provides comprehensive services in securities trading, clearing and settlement, as well as financial information and payment transactions.
