RCB Bank expands domestically through premium Acquiring Services

19 February, 2019

Big retailers like IKEA, show trust to RCB Bank’s credible and top quality card acceptance solutions

RCB Bank has strengthened its portfolio of digital products through premium card acquiring services and expanded its servicing dynamic to some of the biggest merchant clients in Cyprus, including IKEA.

In 2018 the card acquiring business of the Bank has shown strong development with monthly growth rates exceeding 20%.

Head of Acquiring & Digital Payment Services, Harry Xenophontos has said that RCB’s strategic decision to become an Acquirer Bank in Cyprus focuses primarily on its role as a direct business partner for clients seeking long term quality and value added payment solutions. “RCB Bank is the only banking institution in Cyprus offering complete card acquiring services from its own in-house platform, which provides additional benefits for merchant clients such as reliable transaction processing, same day settlement and availability of funds, transparent fee structure, and unified operational efficiencies. Through the unique business model, RCB Acquiring Services push boundaries in an attempt to transform clients’ payment acceptance to make it convenient, competitive and fast”, said Xenophontos.

Commenting on the development a management representative from IKEA Cyprus has said: “We value our cooperation with RCB and we are happy to extend our collaboration to include Acquiring and Digital Payment solutions”.

RCB’s POS terminals were deployed and well tested in the market for a full year allowing key merchants to accept payments from multiple card brands. The new technological advancements include the latest models of terminals as well simple cash register integrations, self-service terminal solutions, safe e-commerce options, dynamic currency conversions, and more loyalty program offerings.