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SIX PAYMENT SERVICES: TAKING CARE OF THE ENTIRE VALUE CHAIN OF PAYMENTS

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SIX PAYMENT SERVICES

COMPANY NAME: SIX Payment Services

SIX Payment Services

SIX Payment Services

NATURE OF BUSINESS:
SIX Payment Services offers financial institutions and merchants secure, innovative solutions along the entire value chain of cashless payments. As one of Europe’s leading transaction processors, SIX Payment Services supports financial institutions with the end-to-end processing of their card and interbank payments.

With the latest IT infrastructure, SIX Payment Services not only ensures an efficient and secure transaction process between the cardholder, card issuer and merchant, but also provides a wide range of acceptance solutions and modular offerings. SIX Payment Services also offers integrated card processing for both card-on-site environments and online and mobile payments. The entire offering has been designed for worldwide application and also includes electronic invoice and direct debit processing. Offering optimal protection against abuse and risks, all services are based on the latest international security standards.

SIX Payment Services is a subsidiary of SIX Group. SIX Group offers first-rate services on a global scale in the areas of securities trading, clearing and settlement, as well as financial market information and payment transactions.

LOCATIONS & MARKETS SIX PAYMENTS SERVICES OPERATES IN:
In 2012 2.7 billion card transactions passed through SIX. With around 1400 employees and clients spanning 33 countries, SIX Payment Services operates offices in Great Britain, USA, Sweden, Italy, Poland, Hungary, Austria, Germany, Luxembourg and Switzerland.

SIX PAYMENT SERVICES

SIX PAYMENT SERVICES

Specific sectors in which SIX Payment Services operates include cashless solutions in retail, e-commerce/ m-commerce, hospitality, parking and petrol stations.

KEY EXECUTIVES:

  • Group CEO: Dr Urs Rüegsegger
  • Group CFO: Dr Stefan Mäder
  • CEO Payment Services: Niklaus Santschi

HISTORY OF THE COMPANY:
In 2008, three partners, SWS Group, SIS Group and Telekurs Group combined to create a strong company for the Swiss financial sector with a broad international client base.
In 2009 SIX Pay was launched as a subsidiary of SIX Group in Luxembourg and began offering cashless payment solutions in Europe. The cooperation with strategic partner CETREL played an important role in this venture.

The following year, SIX Pay was granted a PSD (Payment Services Directive) license by the Luxembourg financial supervisory authority (CSSF), meaning that it could offer its acquiring services throughout the EU. As such, SIX Pay began processing card payments from 27 European countries.

In 2011 the two divisions active in the area of payment transactions, Multipay (acquiring) and Cards and Payments (processing), were merged to form the Payment Services division.

In 2013, the company acquired PayLife, Austria’s leading merchant acquirer and credit card issuer. This move doubled the company’s merchant base and will account for one third of revenue in the future.

PRODUCTS / SERVICES OFFERED:
yomani AUTONOM is SIX’s latest stand-alone payment terminal for retail. The yomani has set a new benchmark for payment terminals. It completely meets the needs of major retailers – with stringent demands for efficiency and state-of-the-art technology. Key features include a separate card reader for contactless payments and payment via chip or magnetic stripe, a large-scale colour display and aUSB power supply.

In the mobile payments space, xentissimo MOBILE offers flexible wireless mobile payments, indoors, outdoors and on the go, while solutions for unattended payments, such as parking and petrol pumps include PRIMUS clever, which enables customers to pay small amounts without having to enter a PIN.

This is just a small selection of SIX’s product range. For more details please visit here.

CSR ACTIVITIES:
SIX offers a corporate volunteering program in Switzerland encouraging employees to get involved in projects for the benefit of disadvantaged people or the environment.
SIX is careful, efficient and pragmatic in its handling of natural resources. The company tracks its energy consumption at all Swiss office locations, as well as the number of business flights, and the amount of paper used.

NOTEWORTHY PROJECTS:
In 2013, SIX Payment Services and Banca Monte Paschi Belgio won the Highly Commended award in the coveted FSTech Awards. In the same year SIX Payment Services and Diners Club Italy signed a long-term merchant acquisition agreement.

WEBSITE: https://www.six-payment-services.com/EN/Pages/_home-en.aspx?nc=635151986063493882

Business

Battling Covid collateral damage, Renault says 2021 will be volatile

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Battling Covid collateral damage, Renault says 2021 will be volatile 1

By Gilles Guillaume

PARIS (Reuters) – Renault said on Friday it is still fighting the lingering effects of the COVID-19 pandemic, including a shortage of semiconductor chips, that could make for another rough year for the French carmaker.

Renault reported an 8 billion euro ($9.7 billion) loss for 2020 which, combined with gloomy take on the market, sent its shares down more than 5% in late morning trading.

“We are in the midst of a battle to try to manage a difficult year in terms of supply chains, of components,” Chief Executive Luca de Meo told reporters. “This is all the collateral damage of the Covid pandemic… we will have a fairly volatile year.”

De Meo, who took over last July, is looking at ways to boost profitability and sales at Renault while pushing ahead with cost cuts. There were early signs of improving momentum as margins inched up in the second half of 2020.

The group gave no financial guidance for this year, although it said it might reach a target of achieving 2 billion euros in costs cuts by 2023 ahead of time, possibly by December.

Executives said they were confident the carmaker could be profitable in the second half of 2021, but that they lacked sufficient market visibility to provide a forecast.

Renault struck a cautious note, saying it was focused on its recovery but warned orders had faltered in early 2021 as pandemic restrictions continued in some countries.

The group is facing new challenges as the European Union tightens emissions regulations and after rivals PSA and Fiat Chrysler joined forces to create Stellantis, the world’s fourth-biggest automaker.

The auto industry endured a tough 2020 but a swift rebound in premium car sales in China helped companies such as Volkswagen and Daimler to weather the storm.

Auto companies globally have since been hit by a shortage of semiconductors that has forced production cuts worldwide.

“The beginning of the year has shown some signs of weakness,” De Meo told analysts, but added the chip shortage should be resolved by the second half of 2021. “We have taken the necessary measures to anticipate and overcome challenges.”

Renault estimated the chip shortage could reduce its production by about 100,000 vehicles this year.

SHARP HIT

The group was already loss-making in 2019, but took a sharp hit in 2020 during lockdowns to fight the pandemic, which also hurt its Japanese partner Nissan.

Analysts polled by Refinitiv had expected a 7.4 billion euro loss for 2020. The group posted negative free cash flow for 2020.

The 2018 arrest of Carlos Ghosn, who formerly lead the alliance between Renault and Nissan, plunged the automakers into turmoil.

In a further sign that the companies have been working to repair the alliance, De Meo told journalists that Renault and Nissan will announce new joint products together in the coming weeks or months.

Renault has begun to raise prices on some car models, and group operating profit, which was negative for 2020 as a whole, improved in the last six months of the year, reaching 866 million euros or 3.5% of revenue.

Analysts at Jefferies said the operating performance was better than expected. Sales were still falling in the second half, but less sharply.

Renault is slashing jobs and trimming its range of cars, allowing it to slice spending in areas like research and development as it focuses on redressing its finances. It is also pivoting more towards electric cars as part of its revamp.

It was already struggling more than some rivals with sliding sales before the pandemic, after years of a vast expansion drive it is now trying to rein in, focusing on profitable markets.

De Meo told journalists on Friday that the French carmaker will make three new higher-margin models at its Palencia plant in Spain, where manufacturing costs are lower, between 2022 and 2024.

($1 = 0.8269 euros)

(Reporting by Gilles Guillaume and Sarah White in Paris, Nick Carey in London; Editing by Christopher Cushing, David Evans and Jan Harvey)

 

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UK delays review of business rates tax until autumn

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UK delays review of business rates tax until autumn 2

LONDON (Reuters) – Britain’s finance ministry said it would delay publication of its review of business rates – a tax paid by companies based on the value of the property they occupy – until the autumn when the economic outlook should be clearer.

Many companies are demanding reductions in their business rates to help them compete with online retailers.

“Due to the ongoing and wide-ranging impacts of the pandemic and economic uncertainty, the government said the review’s final report would be released later in the year when there is more clarity on the long-term state of the economy and the public finances,” the ministry said.

Finance minister Rishi Sunak has granted a temporary business rates exemption to companies in the retail, hospitality, and leisure sectors, costing over 10 billion pounds ($14 billion). Sunak is due to announce his next round of support measures for the economy on March 3.

($1 = 0.7152 pounds)

(Writing by William Schomberg, editing by David Milliken)

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Discounter Pepco has all of Europe in its sights

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Discounter Pepco has all of Europe in its sights 3

By James Davey

LONDON (Reuters) – Pepco Group, which owns British discount retailer Poundland, has targeted 400 store openings across Europe in its 2020-21 financial year as it expands its PEPCO brand beyond central and eastern Europe, its boss said on Friday.

The group opened a net 327 new stores in its 2019-20 year, taking the total to 3,021 in 15 countries. The PEPCO brand entered western Europe for the first time with openings in Italy and it plans its first foray into Spain in April or May.

Chief Executive Andy Bond said its five stores in Italy have traded “super well” so far.

“That’s given us a lot of confidence that we can now start building PEPCO into western Europe and that expands our market opportunity from roughly 100 million people (in central and eastern Europe) to roughly 500 million people,” he told Reuters.

To further illustrate the brand’s potential he noted that the group has more than 1,000 PEPCO shops in Poland, which has a significantly smaller population and gross domestic product than Italy or Spain.

The company, which also owns the Dealz brand in Europe but does not trade online, has already opened more than 100 of the targeted 400 new stores this financial year.

Pepco Group is part of South African conglomerate Steinhoff, which is still battling the fallout of a 2017 accounting scandal.

Since 2019 Steinhoff and its creditors have been evaluating a range of strategic options for Pepco Group, including a potential public listing, private equity sale or trade sale.

That process was delayed by the pandemic, but Steinhoff said last month that it had resumed.

“The business will be up for sale at the right time. It’s a case of when, rather than if,” said Bond, a former boss of British supermarket chain Asda.

Pepco Group on Friday reported a 31% drop in full-year core earnings, citing temporary coronavirus-related store closures.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) were 229 million euros ($277 million) for the year to Sept. 30, against 331 million euros the previous year.

Sales rose 3% to 3.5 billion euros, reflecting new store openings.

($1 = 0.8279 euros)

(Reporting by James Davey; Editing by David Goodman)

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