The collaboration between ABN Amro and Buckaroo represents a strategic move by the bank to strengthen its position in the rapidly evolving payment services market. Buckaroo, a payment solutions provider with a comprehensive suite of offerings, has been chosen by ABN Amro to manage its debit card acquiring contracts for retail business clients. The partnership includes the phased transfer of all PIN transactions to Buckaroo.
Buckaroo, founded in 2005 and headquartered in Utrecht, the Netherlands, provides a diverse range of payment solutions such as iDEAL, SoftPOS, recurring payments, payment terminals, PayByBank, and buy now, pay later (BNPL). This collaboration aligns with ABN Amro’s objective of offering enhanced payment support to its clients in the face of a rapidly changing market.
Erica Kostelijk, the Director of ABN Amro Transaction Banking, sees Buckaroo as an ideal match for the bank’s goals. The move is part of ABN Amro’s broader initiative to expand its payment capabilities and establish strategic partnerships within the industry. This strategic approach is consistent with the bank’s actions in 2023, where it collaborated with Infosys Finacle to enhance commercial cash flows for corporate clients and engaged private equity firm Motive Partners to manage its ventures fund. Additionally, ABN Amro strengthened its presence in the retail investment space by acquiring Dutch neobroker Bux.
In summary, the partnership with Buckaroo is a significant step for ABN Amro as it actively seeks to enhance its payment services, strengthen industry collaborations, and adapt to the evolving financial landscape.
