SpareBank 1 signed a new 7-year strategic partnership agreement
with EnterCard Norge AS, a subsidiary of EnterCard International, the
leading Nordic credit-card issuer. The agreement involves developing new
concepts and issuing credit cards for the independent banks within the
SpareBank 1 Group, with the ambition of becoming a major player in the
Norwegian credit-card market.
When EnterCard International was founded more than a year ago by the two
owners, Barclays Bank and Swedbank, the Norwegian company gained market
leading credit-card expertise derived from Barclaycard, Europe?s leading
credit- card issuer.
– Our decision to go with EnterCard as a partner for our credit-card
business is based on their competitive business proposal, strong owners
as well as their extensive market experience and competence in credit
cards, says Tor Lyngstad, CEO of SpareBank 1 Group.
-Signing this agreement with SpareBank 1 reflects our common ambition to
further explore the potential of the Norwegian credit-card market. This
agreement is very important for EnterCard as all the banks within
SpareBank1 contribute with a vast distribution network and strong market
presence, says Freddy Syversen, Managing Director of EnterCard Norway.
Earlier this year EnterCard signed new partnership agreements with LO in
Norway and FDB/Coop in Denmark. In December last year, EnterCard signed
an agreement with Coop in Norway.