arrow-thincheckemaillocationphone

You are here

October 15, 2014

Edenred has strengthened its position in Asia by acquiring a 70% stake in Cardtrend

Edenred has acquired a 70% stake in Cardtrend, a provider of fuel card management software solutions based in Malaisia and reinforce its strategy of developing Expense management solutions

Cardtrend operates white-label fuel card programs on behalf of key oil & gas industry players that are based in Southeast Asia. Cardtrend provides its customers with customized software solutions allowing them to manage the fuel cards that they issue and distribute, as well as their loyalty programs.

Edenred is thus establishing a foothold in the promising fuel card market in Asia, which has the advantage of a still low penetration rate and a very dynamic economic environment. The Group intends to explore development opportunities across the rest of the value chain, particularly in program processing and issuing. The Cardtrend acquisition will contribute to the Group’s growth over the long term.

With this acquisition, Edenred is pursuing its strategy of developing Expense management solutions, which are targeted to account for over 20% of consolidated issue volume in 2016.
 

Read more

Press release • Finance

Third-quarter 2019 revenue

18 October 2019

News • Communications

Idealday awarded a 2019 Monster Innovation Grand Prize

11 October 2019

News • Social responsability

The United Nations rewards the FOOD program

9 October 2019

Press release • Development

Edenred Capital Partners invests in the fleet management...

8 October 2019

News • Development

More than 1 million unbanked now benefiting from innovative...

25 September 2019