Orient Finans Bank has implemented Tieto’s Card Suite solution, ensuring issuing of MasterCard payment cards and their acceptance service in the bank’s terminals. Tieto Card Suite is a technology platform that will be used by the bank for interaction with MasterCard payment system, providing a complete payment card life cycle, processing of transactions committed in the bank’s POS terminals, and assuring secure settlement for customers using payment cards. Orient Finans Bank can now be an independent participant of the payment card market, reduce operational expenses, attract new customers and increase trust among the existing clients.
BPC Banking Technologies Open System e-payment solutions for the global financial industry has won a competitive tender to build a new national switch and processing platform for Uzbekistan. UZKART, Uzbekistan’s national payment system includes 28 participating banks issuing more than 8,5 million cards. UZKART needed to replace its DUET based legacy payments processing infrastructure to cope with the rapid growth in the country’s payments business. Card and POS numbers have been increasing at 25-30% per annum, while transaction volumes have been doubling each year. Additionally UZKART wished to broaden its business offering by being able to issue and acquire internationally branded cards, while meeting the highest standards for data security and fraud management. BPC’s award winning SmartVista suite was chosen after a competitive bid process as it was able to support the significant demands inherent in running a nationwide payments infrastructure. SmartVista’s broad range of capabilities effectively support and manage payments across all channels, including POS, branch, Internet, and mobile applications.
Net1 UEPS Technologies subsidiary, Net1 Universal Technologies (Austria) has received a new order from the leading banks of Uzbekistan for the delivery of 1.1 million smart cards and 2,500 EFTPOS terminals during 2011. The National Bank of Uzbekistan started a small pilot project in 1995 with 5,000 smart cards. This project has evolved into a fully-fledged National Interbank Payment System under the brand name UZKART and currently comprises 6.6 million UEPS smart cards and 45,000 POS terminals. The National Interbank Payment System operates on Net1’s FTS/UEPS technology platform and is supported and jointly managed by the 25 largest banks of Uzbekistan. Net1 provides its universal electronic payment system, or UEPS, as an alternative payment system for the unbanked and under-banked populations of developing economies, allowing an estimated four billion people who generally have limited or no access to a bank account, to enter affordably into electronic transactions.
Western Union Financial Services, Inc., a
subsidiary of First Data Corp. announced the launch of the
Western Union Money Transfer service in Uzbekistan.
Western Union, the first money transfer company to offer services in the
country, has established eight agent locations in the capital city of Tashkent
and surrounding areas. By the end of first quarter, Western Union will add
additional agent locations in the cities of Bukhara, Samarkand, Fergana and
Kokand. By the end of 2002, the company anticipates having up to 20 active
locations across Uzbekistan. Western Union’s new Uzbekistan agents —
Business Bank, Bank Khamkor and National Banks of Uzbekistan — have a
combined total of 42 locations throughout the country.
“Thanks to Western Union, thousands of Uzbek emigres in the U.S. will now
be able to send money legally, quickly and safely to their loved ones in
Uzbekistan,” said Mr. Ziyodilla Khodjimedov, Consul General of the Republic of
Uzbekistan in New York. “Western Union money transfers are going to make life
better for our relatives and friends in need,” Ziyodilla added, emphasizing
the importance of rapid money transfers in stimulating business growth and
developing the infrastructure of the country.
“Uzbek emigres have their own unique and proud heritage,” said Bill
Thomas, president, Western Union International. “Yet, they share one strong
characteristic with expatriates from around the world: the desire to become
active members of their adopted communities, while maintaining strong ties to
their homeland. One way they maintain those ties is by providing financial
support to loved ones back home. They trust Western Union to perform that
function, which is a responsibility we take very seriously.”
About Western Union Financial Services, Inc. and First Data
Western Union Financial Services, Inc., a subsidiary of First Data Corp.
(NYSE: FDC), is an international leader in consumer money transfer services.
Consumers can quickly, safely and reliably pay bills and transfer money around
the globe using the company’s proprietary money transfer network. Western
Union and its subsidiary, Orlandi Valuta, together make up one of the world’s
largest money transfer networks with a total of approximately 120,000 Agent
locations in more than 185 countries and territories. Famous for its
pioneering telegraph service, the original Western Union dates back to
1851 and introduced electronic money transfer service in 1871. For more
information, please visit the company’s Web site at
First Data Corp., with global headquarters in Denver, helps power the
global economy. Serving approximately 2.8 million merchant locations,
1,400 card issuers and millions of consumers, First Data makes it easy, fast
and secure for people and businesses to buy goods and services, using
virtually any form of payment: credit, debit, smart card, stored-value card or
check at the point-of-sale, over the Internet or by money transfer. For more
information, please visit the company’s Web site at