A Success Story
from Greece
Panos Halkias
Sales Director
Printec Group
p.halkias@printecgroup.com
September 2004
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About Printec Group
Printec History & Evolution

1988: Establishment of Printec Greece

1992: Establishment of Printec Bulgaria

1995: Establishment of Printec Cyprus

1999: Acquisition of NCR’s business entities &
operations
in
Slovenia,
Slovakia,
Croatia
and
Romania; NCR distribution rights for the Balkans

2002: Establishment in Serbia, (Printec representative
office)

2004: Establishment of Printec Bosnia and Printec
Serbia.

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2005: Establishment of Printec Albania
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Market Footprint


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Printec Branches
Printec Partners
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Group Human Resources
340 Employees – January 2006
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Group Financial Data
Annual Turnover 1997-2005
80
74
70
60
55
50
43
40
33.7
31.7
29.4
30
20
8.33 10.56
12.53
10
1997
1998
1999
2000
2001
2002
2003
2004
2005
0
(in million Euro)
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Group Products & Solutions
 Transaction Automation
• E-payment Systems
• Branch Automation
• Banking Software
• Card Applications
 Integrated IT Solutions
 Secure Document Printing Solutions
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Transaction Automation – Partners
Chip Vendor
Program Member
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Chip Consultancy
Update Program
Member
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A long history with Verifone
 Printec has been one of the first VFI partners in
the region, more than 15 years relationship
 Have been through good times (Tranz 460) and
bad times (HP) together
 After 2000, we expanded cooperation to all
Balkan markets and built a strong market share
together
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Verifone & Printec
 Today, together, we are the undisputed market
leader in our region, increasing our market
share every year, although Eastern Europe is a
key emerging market where everyone focuses
 Indicative data:
• 65%+ market share in Greece (120.000+ terminals)
• 85%+ market share in Bulgaria (20.000+ terminals )
• 90%+ market share in Cyprus (15.000+ terminals)
• 50%+ market share in Romania (20.000 + terminals)
 Several successful launches of new products:
• 3750
• Vx510
• Vx610 etc
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Latest success story:
National Bank of Greece
“go National” project
The customer
 National Bank of Greece is the largest bank in Greece
 Network of 750 branches
 Leading bank in card issuing and card acquiring
 Strong presence in Eastern Europe countries
 Recently announced the acquisition of Finansbank in Turkey, for a
reported 4.5 bill. Euro amount
 Good Printec customer for many years, however the bank has
traditionally been on a dual vendor policy regarding POS terminals
(Verifone and Axalto)
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The environment
 Greek acquiring and issuing markets are mature. Issuing keeps
growing, acquiring is relatively stable in number of locations
 Multiple terminals and acquiring banks per merchant
 Merchant fee wars
 Cardholder fee wars
• Subscription-free cards
• 6 month 0% interest for balance transfers card to card
 Decrease in revenue per cardholder and per merchant, leading banks
to attempt portfolio expansion by acquiring riskier segments of the
market
 Uniformity of card products offered to the market among banks
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The requirement
 NBG wanted to strongly differentiate their offering to
merchants and cardholders, by:
• Making payment experience more rewarding for the
cardholder
• Providing a benefit for the cardholder to use NBG cards
instead of other banks’ cards
• Create alliances with key merchants based on card
products
 NBG needed a global, reliable, tested multi merchant
loyalty platform, combining:
• Capability to be deployed on multiple terminal types
• Capability to be deployed on multiple smart card types
• Approval and acceptance from VISA and MC
 Launch of the new platform would be combined with EMV
migration (issuing and acquiring) and new card brand
creation
 Due to competitive pressure, NBG was looking for the
quickest possible overall implementation time
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The “go National” project
 After reviewing several solutions in the
marketplace, NBG decided to use the Welcome
RT XLS loyalty platform
 Project assigned to Printec as WRT distributor
for the region, in July 2005
 WRT XLS was only part of the overall project,
which included:
• EMV migration of NBG terminals, including testing
with Int’l organizations
• EMV issuing, including purchase of the cards and
creation of an entire new card range and brand
• Selective re-terminalization, including purchase of
new terminals
• XLS deployment
 Kick off August 2005, targeted launch date Dec.
15 2005!!
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The “go National” project
Printec has provided to NBG:
 The Welcome RT XLS platform
 Vx510 terminals, application development on
Vx510, including latest EMV application and
XLS loyalty applet, as well as tailor made
customizations
 GemShare cards from GemPlus
 Installation and project management services
 Consulting services on:
• Card design and perso preparation
• Loyalty system launch and promotional strategy
• Merchant sales & placement strategy
• Back office design and operation
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The “go National” project
 The project was finished on-time.
 4 months deployment for all components of the
project. Fastest WRT XLS deployment ever
 Already 250.000 new cards in the market with
the “go” brand
 134 merchant chains already enrolled in the
program
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What made the difference?
A. Printec
 Several teams working 24/7 for weeks
 Extreme SW capabilities
 Field services for placement, training and
support
 Project management
 Gained the trust of the top management by
providing reliable input in their strategy design
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What made the difference?
B. Verifone
 Verix and Vx environment capabilities, and
especially VMAC, allowed for quick integration of
the loyalty applet and the EMV payment application
 Screen capabilities and ATM keys made merchant
training easier
 Vx coupled with Printec Terminal Management
System allows extreme flexibility in remotely
managing and updating the terminal and the
merchant campaigns
 Axalto still has not finished integration of XLS on
their terminals, meaning that at the moment NBG is
only deploying VFI terminals!
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The “go National” project – The Future
 Bank will continue deploying terminals, VFI
being their preferred platform
 We will soon attach VFI skins to the terminals to
increase brand awareness
 Planning to launch Mx870 as card
synchronization station and cardholder infopoint inside bank branches and major retailers
 Planning to start using other Vx terminals (610,
670)
 Other initiatives to follow:
• Deployment on ATMs
• Deployment of Bill Pay Machines etc
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Thank You!