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May 23, 2015 1:09 AM ET

Consumer Finance

Company Overview of ServiRed Sociedad Española de Medios de Pago, S.A.

Company Overview

ServiRed Sociedad Española de Medios de Pago, S.A. provides electronic payment solutions in Spain. The company issues various credit and debit cards, such as personal products to finance payments for the purchase of consumer goods and services; commercial products, including business, corporate, and purchasing products for member financial institutions for the payment and management of purchasing, travel, and entertainment expenses; and smart cards. It also operates a network of ATMs that offer various services to cardholders, which include cash withdrawal, settlement inquire, checking last movements, change personal number, select language, and request checkbook services. The company offers...

Gustavo Fernandez Balbuena, 15

Madrid,  28002

Spain

Founded in 1979

Key Executives for ServiRed Sociedad Española de Medios de Pago, S.A.

Chief Executive Officer
Director of Relations
Compensation as of Fiscal Year 2014.

ServiRed Sociedad Española de Medios de Pago, S.A. Key Developments

UnionPay International Enters into Cooperation Agreement with ServiRed and its Bankia

UnionPay International has entered into a cooperation agreement with ServiRed and its member Bankia, to start accepting UnionPay cards at all the ATMs and merchants under Bankia. Additionally, UnionPay has also inked a merchant expansion agreement with Universalpay to accelerate UnionPay card acceptance by all the merchants. As part of the agreements, Bankia and Universalpay will enable UnionPay card acceptance by all their merchants by the end of this year or early next year. Following the deal, UnionPay cards will be accepted by 150,000 more merchants in Spain including airport duty free shops, shopping malls, department stores, fashion brands, hotels, restaurants and other places. The agreement will see the addition of Bankia's 5,500 ATMs in Spain to the UnionPay acceptance network. The partnership aims to rapidly boost the UnionPay card acceptance coverage in Spain by 10%, offering more convenient and preferential payment services to UnionPay cardholders coming to Spain.

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