Compass Plus Kicks Off Card Processing Center

Compass Plus payments software provider unveiled the Tajikistan national processing center, for which it was enlisted to consolidate the existing infrastructure of bank card acceptance in Tajikistan on a single national platform. This allows secure card operations in the country and delivering access to the advanced payment technologies, including Internet and mobile banking. Choosing Compass Plus as its technology partner ensured that the Tajikistan National processing centre gained access to the full range of modern banking services that include cash disbursement and acceptance, payment for goods and services, various fund transfer options, performing banking operations via the Internet and mobile and SMS-banking.

Compass Plus Implements Platform With National Bank of Tajikistan

Compass Plus’ “TranzWare” platform will serve the National Bank of Tajikistan, allowing its national processing center to provide a reliable platform for card payment processing. Consolidating existing infrastructure of bank card acceptance throughout the Country, this will let financial institutions issue local as well as international bank cards on their own national platform. The platform will also offer access to internet and mobile banking. This coincides with 1Q/11 findings showing card holders in Tajikistan conducted more than 818,700 payment operations, totaling USD 72million for an increase of 150.6% and 123.1% respectively.

MONEY TRANSFERS

The Republic of Tajikistan has signed a deal with Western Union Financial Services to joins its international money transfer network. Agreements with the Post of Tajikistan, Orienbank, Amonatbank and
Sohibkorbank will create an estimated 50 Western Union agent locations throughout Tajikistan by year-end. The companies anticipate increasing the number of agent locations to approximately 400 by the year 2006.
With the addition of Tajikistan, Western Union services are now available in all of the former Soviet Republics.