Credics Technologies Expands into Eastern Europe

Or-yehuda, Israel (PressExposure) September 18, 2009 -- Credics Technologies has expanded their presence in the key emerging markets of Central & Eastern Europe to establish their own office in Romania, Central Europe's second biggest market after Poland. The office is a subsidiary of Credics and will serve the growing need in the region for cost effective and flexible transaction management solutions and card processing platforms for banks, credit card companies and businesses.

The new office will provide advanced solutions and services for banks, third party processors, retailers, and fuel companies throughout the region, who historically were served by more 'plain vanilla' IT systems. The newly appointed CEO of the Romanian office is Diana Munteanu who brings with her extensive card processing experience in the local market.

Central and Eastern Europe (CEE) is one of the most dynamic regional cards markets worldwide with myriad players and opportunities according to industry analysts. Spending on prepaid payment cards in Europe is estimated to reach US$164 billion by 2010, according to new Boston Consulting Group (BCG) research commissioned by MasterCard Europe. It is in Eastern Europe, where prepaid spending is set to make the biggest impact as a proportion of total payment card spend.

"The emerging markets of Central & Eastern Europe are important markets for Credics. Together with our existing partners, our local office will be able to meet the special needs of our customers in these countries and offer them cost effective, modular and flexible solutions for their processing problems," says Haim Zemah, CEO and founder, Credics Technologies.

"Romania is a key country in the region, in particular given its new status as an EU member, a consumer market of over 22 million and the fact that it is one of the fastest-growing economies in Europe, says Diana Munteanu, CEO, Credics Romania. We look forward to providing better service to our expanding client base in Romania and neighboring countries."

About Credics Technologies

Since its establishment in 1999 by veterans in financial software, Credics has been in the forefront of the industry, creating and implementing processing solutions for financial, retail, and other institutions. The custom-built Credics solutions facilitate marketing of financial products, full use of data intelligence and management of financial transaction systems, all tailored to the precise needs of each business regardless of size or scope.

Credics Technologies provides modular components that address the emerging transaction processing needs of the client, while fitting in with the existing infrastructure and legacy systems. The unique GL accounting based design of the Credo platform is built at its core, according to the Payment Services Hub and Convergence frameworks touted by industry experts such as Gartner and Tower Group – allowing the system to grow and expand across departments within an organization.

Coordinated by a single core engine, the new Credics modules and existing systems become one fully integrated transaction processing platform that can handle full card issuing and merchant acquiring, authorization, data encryption, fraud prevention, EMV management and other functions. For more information please visit our website at:

Roy Chason
Credics Technologies
6 Hayozrim St
Or-Yehuda, Israel

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Press Release Submitted On: September 18, 2009 at 4:02 am
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