(ArCa). ‘This is a very significant project for us,’ stated Pavlov. ‘It is extremely difficult to embrace an entire country the size of Russia. But we have tried and I believe we have, more or less, succeeded.’ In terms of new territories, BPC broke further new ground
when it won a deal with Palestine Monetary Authority (PMA) in 2013. The organisation was undergoing a technology transformation to overhaul the domestic payments infrastructure, which was still predominantly reliant upon cash and cheques. A Q4 2014 launch date was provisioned, initially for ATM and POS support, according to a spokesperson from the authority.
BPC was awarded the contract in July 2013 after a
‘complete procurement process’, including a proof of concept phase, and won based on technical and financial scoring. By early 2014, the project was in the final stage of the functional requirements definition. The new switch will be Palestine’s first, with these services traditionally being provided by networks in neighbouring Jordan, or via card schemes directly. ‘The services are available already, but they have limited options and are relatively expensive,’ said the spokesperson. PMA’s objective is to establish itself as the country’s central bank, with the digitalisation of the financial services industry one of its main priorities. As well as eradicating the dependency on physical liquidity, it hopes to reduce maintenance costs, open up new streams for different products and services, reduce barriers to adoption of banking services and establish best practices for the banking industry. ‘The ultimate goal is to have a full cycle for all services and business processes from payments transactions, electronic cheque clearing and credit control.’ Support and partial funding for this initiative is being provided by the Welfare Association.
As well as the initial functionality for POS and ATM switching, SmartVista will cover online and offline interfaces with card networks, with additional services being added in time. ATM driving and card issuing remain out of the scope of the project, as PMA ‘is not willing to compete in the private sector’. The new switch will also interface with a recently installed RTGS system, supplied by South African payments specialist Perago (now owned by SIA). SmartVista will send settlement batches to the Perago platform for local transactions, with non-domestic settlement being handled by Mastercard and Visa. In H1 2012, BPC gained its first client in Cambodia, Hattha
Kaksekar, the country’s fourth largest microfinance institution. SmartVista was expected to go live by the end of that year, providing Hattha with a multifunctional transaction switch for ATM, POS and mobile payments, as well as card management. It would also support biometric identification, enrolment and verification, the first solution of its kind in Cambodia. Hattha
was 94 moving into the commercial banking space, having already received a licence for taking deposits
(previously it was able to offer lending products only) and installed a new core banking system, Flexcube from Oracle FSS. SmartVista was taken to underpin new remote banking services, as part of its financial inclusion programme, such as deposit-taking and microlending via ATMs and remittances via mobile/ATM.
Interblocks
BPC competitors for the deal included FIS, regional vendors and
ElectraCard Services, and Russia-based
Compass Plus. Rajan Narayan, BPC’s managing director for Asia Pacific, said Hattha concluded that BPC was ‘the only vendor that could provide a one-stop-shop for all its requirements’. And although SmartVista comes with a higher price tag than some of its competitors, Narayan stated that Hattha ‘did not want a cheap solution’. He added that two other financial institutions in Cambodia were ‘actively engaged’ with BPC on SmartVista, with one of the deals expected to come through before the end of 2012. For many banks and financial institutions in Cambodia their existing payments systems are just ‘a stepping stone’, he explained, so further engagements would follow once Hattha went live and became a reference site. Eight member banks of the Nepal Electronic Payments Systems (NEPS) initiative replaced their legacy payment systems with the Smartvista solution provided by BPC Banking Technologies in 2016. The BPC services took over the payment infrastructure at the member banks, including switching, ATM management and card issuing. The new solution, said BPC, will also allow Nepalese citizens and tourists to use their cards at any ATM device. BPC Banking Technologies replaced India-based Cosmos
Co-operative Bank’s existing Electra-based legacy payment platform with its Smartvista suite. Full launch of all services was announced to be completed in the first quarter of 2016. The Smartvista suite can enhance the ATM and POS management and also introduce card management capability for debit and prepaid cards.
Vietnam-based TienPhong Commercial Joint Stock
Bank (TP Bank) implemented Smartvista from BPC Banking Technologies to replace its current card solution and legacy payments systems in late 2015. Smartvista hoped to give TP Bank all aspects of payments including full in-house processing of ATM and POS transactions together with card issuing. The partnership saw the migration of the bank’s legacy ATM switch and cards platform to Smartvista in 2015 and further roll-out and enhancements in the early part of 2016. In June 2016, BPC Banking Technologies was selected by PVcomBank, Vietnam to implement BPC’s
SmartVista,
replacing the existing ATMs switch and Card Management System. PVcomBank was able to launch credit cards to the consumers of Vietnam for the very first time since its deployment.
In Nov 2016, the SmartVista technology of was selected by Islami Bank Bangladesh Limited IBBL. The bank selected SmartSwitch, and SmartATM to enhance their customer
Payment Systems & Suppliers Report |
www.ibsintelligence.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179 |
Page 180 |
Page 181 |
Page 182 |
Page 183 |
Page 184 |
Page 185 |
Page 186 |
Page 187 |
Page 188 |
Page 189 |
Page 190 |
Page 191 |
Page 192 |
Page 193 |
Page 194 |
Page 195 |
Page 196 |
Page 197 |
Page 198 |
Page 199 |
Page 200 |
Page 201 |
Page 202 |
Page 203 |
Page 204 |
Page 205 |
Page 206 |
Page 207 |
Page 208 |
Page 209 |
Page 210 |
Page 211 |
Page 212 |
Page 213 |
Page 214 |
Page 215 |
Page 216 |
Page 217 |
Page 218 |
Page 219 |
Page 220 |
Page 221 |
Page 222 |
Page 223 |
Page 224 |
Page 225 |
Page 226 |
Page 227 |
Page 228 |
Page 229 |
Page 230 |
Page 231 |
Page 232 |
Page 233 |
Page 234 |
Page 235 |
Page 236 |
Page 237 |
Page 238 |
Page 239 |
Page 240 |
Page 241 |
Page 242 |
Page 243 |
Page 244 |
Page 245 |
Page 246 |
Page 247 |
Page 248 |
Page 249 |
Page 250 |
Page 251 |
Page 252 |
Page 253 |
Page 254 |
Page 255 |
Page 256 |
Page 257 |
Page 258 |
Page 259 |
Page 260 |
Page 261 |
Page 262 |
Page 263 |
Page 264 |
Page 265 |
Page 266 |
Page 267 |
Page 268 |
Page 269 |
Page 270 |
Page 271 |
Page 272 |
Page 273 |
Page 274 |
Page 275 |
Page 276 |
Page 277 |
Page 278 |
Page 279 |
Page 280 |
Page 281 |
Page 282 |
Page 283 |
Page 284 |
Page 285 |
Page 286 |
Page 287 |
Page 288 |
Page 289 |
Page 290 |
Page 291 |
Page 292 |
Page 293
