Alpha Bank and EFG Eurobank Ergasias, two of the largest card issuers and acquirers in the Greek market, announce the signing of a cooperation preagreement leading to the establishment of a big modern integrated network of POS terminals.

The new single network will support transactions with VISA, MASTERCARD, AMERICAN EXPRESS and EUROLINE cards, have country-wide coverage and incorporate up-to-date technological standards.

The new network will eliminate operational duplication and permit the extension of acquiring services to a wider number of merchants using an electronic platform of superior speed and security.

The new integrated network will:

• improve acquiring services to the benefit of both merchants and card holders, and

• result in cost savings from the introduction of technologically advanced security and support functions as well as from the consolidation of transaction processing costs.