Azerbaijan, Baku, Nov. 1 / Trend N.Ismayilova /
Azerbaijan's RoyalBank announced the launch of the RoyalCard fully functioning processing system on the basis of a Compass Plus software package.
The new processing system's main task is to control the strategic processes of card business management within the bank, which will facilitate the implementation of plans to increase card business volume, Chairman Samir Akbarov said at a presentation today.
He said RoyalBank has already been certified to directly connect the processing system with the VISA International payment system.
"The bank is close to completing projects to connect directly to MasterCard Worldwide, JCB and CUP," he said. "According to our plans, JCB and CUP certification will be completed in the second half of December and MasterCard certification will be finished in early November."
Akbarov stressed that today the bank has issued 35,700 cards and 30,600 are active. Nearly the same quantities of MasterCard and VISA cards have been issued.
"We plan to increase the number of active cards to 60,000 by late 2011," he said.
According to the bank head, the RoyalCard processing system has the capacity to carry out transactions for 1.5 million cards, while the maximum number of transactions in one minute is 15,000.
RoyalBank's solution will significantly improve operation efficiency and quality of card business programs, including EMV-standard magnetic and chip card issues, as well as the issuance of local cards. In addition, the solution includes a module for monitoring and preventing fraudulent transactions in real time, and interface modules with terminal devices, data preparation and card personalization.
The RoyalCard system's capabilities will manage and effectively support multichannel customer service using a variety of devices and communications equipment, including electronic and mobile commerce payments.
Do you have any feedback? Contact our journalist at: email@example.com