Credics foresees turnover of EUR 4 mln in 2010

Credics Technologies, international supplier of software for payment instruments and transaction processing, estimates it will double its turnover on the Romanian market to EUR 4 million this year. The company entered the local market in 2009 when it posted EUR 2 million. “This year we plan to enlarge our portfolio with eight clients in Romania as well as enter new markets in the region,” said Diana Munteanu, CEO of Credics Romania.

In the sector of software for lenders that want to migrate to the EMV standard (a global standard for credit and debit payment cards based on chip card technology), Credics aims to gain three new clients by the end of this year. “Our statistics show that only 50 percent of banks in Romania have already or are implementing the EMV standard, although by the end of 2010 all financial-banking institutions must align to these new norms,” said Munteanu.

Credics also aims to attract three new clients for loyalty solutions this year. “We think the most attractive customer loyalty scheme will be a cash back type program through which card owners will accumulate money as a percentage of the purchases they make, which they can use in many other ways, such as on new purchases, insurance, or even recovering that percentage in cash,” added the CEO.

Credics also will launch prepaid cards on the local market. “We intend to offer prepaid card solutions and services to several sectors such as banking, retail, oil companies and employers but also any business that needs such functionality,” said Munteanu.

The company plans to expand on new markets in the region and in the fourth quarter of the year will open up in Hungary and Bulgaria. “We have built the platform PSH (Payment Service Hub) in Bucharest and we aim to become the leader in financial services in Central and Eastern Europe, supplying innovative solutions and services to neighboring countries with the help of specialists in Romania,” said the businesswoman.

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Credics also plans to enter markets in Africa and the United States of America through strategic alliances.

Otilia Haraga