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Press release

Swisscom acquires Credit Suisse subsidiary WECO

Berne / Zürich, 03 November 2009

On 1 November 2009 Swisscom acquired the debt collection company WECO Inkasso AG, a subsidiary of Credit Suisse. The company specialises in the collection of loss certificates and receivables on behalf of banks. For Swisscom the acquisition will complement the operations of its subsidiary Alphapay which is active in receivables management. All of the 30 or so employees of WECO Inkasso AG will be taken over.

WECO Inkasso AG offers services specialising in the collection of loss certificates and receivables and is represented with its own branches in Zurich and Fribourg. It delivers services primarily on behalf of Credit Suisse and subsidiaries of Credit Suisse.

Swisscom is already active in the collection business with its subsidiary Alphapay. The acquisition will allow Swisscom to expand its customer base and network and extend its receivables collection services to financial service providers. It is envisaged that WECO Inkasso AG will merge with Alphapay during the course of the next six months, retroactively to 1 November 2009. This will allow Alphapay to significantly expand its activities and become a top provider in the Swiss debt collection market

Swisscom will take over WECO Inkasso AG and its ongoing debt collection business including the handling of its receivables and loss certificate obligations. All of the approximately 30 employees of WECO Inkasso AG will be taken over.


About WECO Inkasso AG

WECO Inkasso AG is a fully owned subsidiary of Credit Suisse and operates in all Swiss cantons. The 30-strong team is spread over branches in Zurich and Fribourg. The company has a network of local representatives (working in partnership with specialist agencies) in 53 countries (including 30 countries in Europe).


About Alphapay

Alphapay is a fully owned subsidiary of Swisscom specialising in integrated receivables management. Operating from three sites and representing all language regions, it handles over 150,000 payment arrears for a wide range of customers throughout Switzerland. Alphapay employees around 60 staff.


Swisscom AG
Media Relations
3050 Bern